The SFO has announced that managing director and shareholder of Alta Gas Plc, Peter Brian Bradley, has been ordered to pay £1 million compensation to victims following confiscation proceedings on 26 January 2010. In 2001, Alta Gas Plc went into administrative receivership which resulted in the receivers of the company discovering a sophisticated system of false accounts that enhanced the profitability of the company. The defendants had obtained a £6.5 million overdraft facility from Barclays Capital and negotiations were underway at the time for a further £70 million investment. The total loss amounted to more than £43 million, including the loss of jobs. An earlier confiscation order of £69,433 was made in January 2009 against co-defendant Peter William Stott.