Called to account

Insight / £3.3m repayment demand for convicted VAT fraudster

A convicted fraudster from Essex who created a fake trade in computer memory sticks has been ordered to repay £3.3m from his VAT scam or serve a longer sentence

Insight / Australian tax official questioned over £95m fraud claims

Michael Cranston, the deputy commissioner of the Australian Taxation Office, has been suspended and could face charges in relation to a A$165m (£95m) payroll scam allegedly carried out by a syndicate involved in tax fraud activity and organised crime which included his son

Insight / VAT fraudster to repay £68k or face additional jail time

A man sentenced for a total of six years for an attempted £465,000 VAT fraud has been told he must repay £68,712 or serve a further eight months in prison

Audit / FRC hits PwC with record £5m fine over Connaught audit

The Financial Reporting Council (FRC) is to fine PwC £5m – its biggest sanction ever - over findings of misconduct in the audit of Connaught, the FTSE 250 social housing provider which went into administration in 2010

Insight / $100K fine and ban for SEC accountant over securities trading

The Securities and Exchange Commission (SEC) has charged an accountant who worked for the US regulator for 16 years with securities fraud in connection with his trading of options and other securities

Insight / VAT fraud farmer to pay £390k or face more jail time

An Irish farmer, who was jailed in 2014 for a £1.3m VAT fraud, has been ordered to pay back more than £390,000, or serve a further three and a half years in prison

Tax / Football star Neymar facing trial over fraud allegations

Brazilian football international Neymar and his current club, Barcelona, are facing trial over allegations of fraud and corruption relating to the striker’s transfer from Brazilian team Santos in 2013

Insight / Called to account: May 2017

The latest scandals and penalties including a businessman who fails to pay £1.3m in tax, FCA ban for CFO of failed spread betting firm, Banned accountant jailed for £5m fraud

Insight / West Midlands charity under financial investigation

The Charity Commission has opened a statutory inquiry into a Christian religious charity, Bethel United Church of Jesus Christ Apostolic UK based in the west Midlands, over what it describes as ‘serious concerns’ related to its financial controls and governance

Accounting / Ex-Olympus execs to pay £410m damages over accounting fraud

Six former directors at Japanese camera and medical equipment maker Olympus have been ordered to pay the company ¥58.8bn (£410m) in damages over a massive accounting fraud originally uncovered by a British whistleblower

Tax / HMRC raids Newcastle and West Ham football clubs

Over a hundred HMRC officers have been deployed on early morning raids at two football clubs - Newcastle United and West Ham -  with several arrests made in connection with allegations of tax fraud

Insight / Jail term for property developer in £640k fraud

A former Ascot-based property developer, who stole the details of an offshore company in the British Virgin Islands and forged documents to commit fraud and evade VAT, has been jailed for three years and seven months following an HMRC investigation

Audit / FRC fines Grant Thornton £2.3m over AssetCo audit failures

The Financial Reporting Council (FRC) has fined Grant Thornton UK £2.275m and given retired partner Robert Napper a three-year ban and a £130,000 fine after its investigation identified a range of ‘widespread and significant’ failings in work on the audits of AssetCo plc, a provider of  outsourced fire and rescue services and equipment

Insight / VAT fraudster ordered to repay £2.2m

A man who falsely claimed to be an accountant and was sentenced for his role in a complex VAT repayment fraud involving fake construction companies, has now been ordered to repay more than £2.2m or face a further period in prison

Accounting / Accountant in £200k fraud at London Metal Exchange

Annmarie Norris, who worked her way up to become head of the accounting department at the London Metal Exchange (LME) despite not having a professional qualification, has been jailed for 32 months for a £200,000 fraud, which the court heard was facilitated by ‘extremely lax’ accounting practices
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