JERSEY — Jersey Mutual is set to recover over £650,000 from two men behind a sophisticated multi-million-pound fraud that spanned 13 years.
Roy Anthony Jeanne, the company’s former General Manager, and his associate Michael John Timms were sentenced last year to nine and four years in prison, respectively, after being found guilty of orchestrating a £4.5 million fraud and money laundering scheme.
The pair used the stolen funds to finance a lavish lifestyle, including paying off the mortgage on Jeanne’s Spanish villa. However, a joint effort between the Law Officers’ Department, States of Jersey Police Financial Crimes Unit, and the Viscount’s Department has resulted in the recovery of £656,193 through asset confiscation.
“This substantial confiscation ensures the defendants cannot enjoy the proceeds of their criminal activity,” said Mark Temple KC, Jersey’s Attorney General. “This case highlights the effectiveness of our financial crime partnerships.”
The investigation, known as Operation Lavender, was launched in 2018 after suspicions were raised within Jersey Mutual about ongoing financial irregularities.
Jeanne ultimately pleaded guilty to multiple charges, including larceny servant, falsification of accounts, money laundering, and conspiracy to commit fraud, involving approximately £3.3 million. Timms admitted to two counts of conspiracy to commit fraud, having aided Jeanne by falsifying invoices.
Following their sentencing in January 2024, the confiscation process concluded in September 2025, bringing some financial relief to Jersey Mutual and closing one of the island’s most extensive white-collar crime cases.
