Lostprophets frontman Ian Watkins to receive £147,000 pay-out following sale of touring company

Singer will receive money upon release from prison

Former Lostprophets frontman Ian Watkins will receive a £147,000 pay-out upon his release from prison following the sale of a touring company he co-owned with his former bandmates.

After Watkin’s conviction in 2013 for a string of child sex offences, his former Lostprophets band mates instructed accountants to wind up a firm called Goonies Touring Company, which handled their affairs.

It is reported that the company had almost £200,000 in cash plus more than £500,000 in assets, which will be split five ways among the band members.

A source told the Mirror: “[Watkins] is entitled to the money because it is cash earned by the band before this scandal broke. Many people will feel revulsion that he will have a nice little nest egg waiting for him when he’s freed but it is his cash and it will go to him.”

Watkins, 37, continues to earn royalties from Lostprophets’ music while being held in a top-security prison.

Meanwhile, a jury has begun considering verdicts in the indecent images trial of Watkins’ former girlfriend Joanne Mjadzelics. Mjadzelics is in Cardiff Crown Court facing charges of possessing and distributing indecent images. The 39-year-old, from Doncaster, denies seven charges relating to the images and instead claims that she encouraged Watkins to send her pictures – and subsequently kept them – so she could expose him.

It was previously reported that jurors heard excerpts from a sex tape the pair had made together in 2008, which included them talking about their desires to abuse young children together. Prosecuting lawyer Jim Davies told the court that the video, which was titled ‘Jo paedo talk Cardiff’ and was made four years before Watkins’ arrest for a string of sex offences, showed them having sex and added: “While they were having sex they were talking about her getting pregnant so they could have a child to abuse.”

Watkins was jailed in December 2013 for 29 years plus six years on licence for a string of serious child sex offences, including the attempted rape of a baby. In July last year, he lost an appeal to reduce his jail sentence after judges ruled that the “shocking depravity” of his crimes justified a lengthy custodial sentence.