Bike shop awarded £77,000 in crime proceeds compensation

An independent family-run bike shop is to receive nearly £77,350 under the Proceeds of Crime Act following a high-value burglary.

The payment comes after four men were jailed for stealing tens of thousands of pounds worth of bikes in a raid lasting just minutes.

Four burglars wearing balaclavas smashed their way into Afan Cycles on the Glanyrafon Industrial Estate in Aberystwyth on Saturday, April 12, 2025, making off with 22 e-bikes and mountain bikes worth an estimated £90,000.

Police said the group forced entry and completed the theft within seven minutes, loading the bikes into a van fitted with false number plates before fleeing the scene.

Investigators from multiple departments worked together to piece together evidence linking the burglary to offenders operating across the border. With assistance from West Mercia Police, four men from Birmingham — Gareth Corbett, 37, Wayne Draisy, 41, Gavin Johnson, 40, and Keith Johnson, 33 — were arrested.

The court heard the men had conspired to steal bikes and other items from businesses on the Glanyrafon estate between April 7 and April 13, 2025.

All four defendants were charged with burglary and conspiring to commit burglary, and later pleaded guilty to both offences at Swansea Crown Court on May 19, 2025.

On August 8, 2025, each man was sentenced to more than 30 months’ imprisonment, with the terms ordered to run concurrently.

Business impact

In a statement provided to the court, the shop owners described the far-reaching consequences of the crime.

They said: “We have built Afan Bikes over seven years with commitment, passion, and significant financial investment. This crime placed the business — and the livelihoods of our three full-time staff, myself, my wife, and our dependents — in a precarious position.

“While we are doing our best to keep going, the loss of assets, staff, income, and customer confidence has made this the most difficult period we have ever faced.

“Recovery will take time, resources, and community support — and even then, the future remains uncertain.”

They added that they were grateful to police for their swift response.

At Swansea Crown Court last week, Proceeds of Crime Act (POCA) proceedings were finalised.

His Honour Judge Walters granted Confiscation Orders totalling £77,348.16, to be paid as compensation to the victims.

Failure to pay could result in a further 18-month prison sentence, alongside the forced sale of assets.

‘Reminder to criminals’

Helen Kelly, of the Economic Crime Team, said the outcome demonstrated that offenders would not be allowed to profit from criminal activity.

She said: “For this local family-run business, this incident had a significant impact. Whilst it will not fix what has happened, hopefully the compensation from this proceeding will help them in continuing to rebuild their business.

“I hope this sentencing serves as a reminder that if you are profiting from crime, we will not only arrest and charge you but use all available powers to ensure that you are not able to live off the proceeds of your criminal activity.”