Called to account

Accounting / Swiss firm loses £80m in South Korean embezzlement

Swiss engineering conglomerate ABB has reported a $100m (£80m) hole in its accounts as the result of an in-house fraud in its South Korean subsidiary, which was master-minded by the local treasurer who is now missing

Insight / Fugitive tax fraudster extradited to UK

A runaway tax fraudster is starting a six year jail sentence, after being extradited back to the UK by HMRC for failing to repay £1.5m

Accounting / FRC sanctions ex-RSA Ireland CFO for inaccurate financial statements

CIMA member Rory O’Connor, the former chief financial officer at RSA Insurance Ireland (RSAII), has been excluded for three years and fined, along with two of the insurer’s former actuaries, following the conclusion of the Financial Reporting Council’s (FRC) investigation into financial irregularities at the company

Tax / NHS staff targeted by tax rebate scam

NHS workers are being targeted by a scam run by tax rebate companies that claim they offer services where they can get a refund, according to a warning put out by Action Fraud, the UK’s national reporting centre for fraud and cyber crime

Insight / VAT fraud café owners face suspended sentence

Two North London café owners, who claimed £67,000 in VAT fraudulently and spent the money on gifts including Premier League football tickets for their family, have been sentencedto a suspended sentence after an investigation by HMRC

Insight / Accountant forged mother’s will

A chartered accountant who forged his dead mother’s will as part of a long-running and acrimonious dispute litigated across multiple jurisdictions with his three brothers over control of a $200m (£160m) family business has been branded ‘a self-confessed liar’ in the High Court

Insight / Pub landlord disqualified over non-payment of VAT

The former landlord of The Albion pub in Bristol has been disqualified as a company director for three and a half years for trading to the detriment of HMRC, after an Insolvency Service investigation found he owed £180,000 in VAT

Insight / ‘Fantasist’ who fabricated VAT claims jailed

A Wiltshire woman, who falsely claimed to be a furniture restorer to commit a £166,000 VAT fraud, has been jailed for two years and eight months after an HMRC investigation found that she had not undertaken any work

Insight / BREAKING: SFO charges Harlequin chairman with fraud

Chairman of Harlequin Hotels & Resorts David Ames has been charged by the Serious Fraud Office (SFO) with three counts of fraud by abuse of position

Insight / Chips are down for potato merchant’s £160k VAT fraud

A Scottish wholesale potato merchant, who falsely inflated his businesses expenses by 2,000% in order to claim £160,000 in VAT repayments, has been jailed for two and a half years following an HMRC investigation

Insight / Heating company accounting records ‘hot air’

The director of a company engaged in cold call marketing has been disqualified for seven years for failing to keep adequate accounting records, after an Insolvency Service investigation found it was not possible to account for some £500,000 of payments made

Audit / EY’s Indonesian arm fined $1m over telecom audit failure

The US Public Company Accounting Oversight Board (PCAOB) has imposed a $1m (£800,000) civil penalty on EY’s network member in Indonesia for audit failure, non co-operation and violations of quality control standards

Insight / Jail for farmers who milked £1.9m in VAT fraud

A father and daughter who ran a Somerset dairy farm have been jailed for a total of nine and a half years for illegally claiming £1.9m by making fraudulent VAT returns, following an HMRC investigation

Insight / Door slammed shut on disqualified director

Mark Hinchliffe, a disqualified director, who continued to act as director in the running of a company in breach of his disqualification, has been handed a further ban of 11 years following an investigation by the Insolvency Service which found he owed HMRC £176,000

Insight / Garage owner disqualified for trading while insolvent

The director of a Welsh garage repair and MOT business has been disqualified from acting as a director for seven years, after an Insolvency Service investigation found he had traded to the detriment of creditors while insolvent, with some £90,000 owing for PAYE, National Insurance contributions and VAT
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