Paedophile rocker Ian Watkins is set to receive a £147,497 pay-out after his former bandmates instructed accountants to wind up the band’s management company.
The former Lostprophets singer is serving a 29-year sentence after pleading guilty to vile sex acts, including the attempted rape of a baby.
It is believed that his former fellow band members instructed accountants to wind up a firm called Goonies Touring Company Ltd after Watkins was convicted in November 2013.
The company had more than £500,000 in assets, and almost £200,000, which will be split five ways.
A source told the Mirror: ‘He 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.’
Music lawyer Craig Brookes previously told Wales on Sunday that Watkins will also receive revenue from publishing rights, as he was the group’s primary songwriter.
He said: ‘The biggest income stream will almost certainly be publishing which, even if radio play has stopped, will still be pretty big.
‘This is because PRs and their equivalents in different countries allocate money on a spot-check basis.
‘So you’re going to get money for plays in gyms and hairdressers and on jukeboxes and all that stuff.
Watkins, who is currently behind bars at a top-security prison, is already wealthy from his former band’s album and ticket sales, having sold approximately 3.5 million albums.