Called to account

Insight / Banned accountant jailed for £5m fraud on friend

An accountant from Cambridgeshire, who has already been excluded from ICAEW over accounting failures as a company director, has now been given an eight-year prison sentence for stealing more than £5m from three companies owned by a personal friend of 25 years' standing

Audit / PCAOB cracks down on ex-PwC Brazil partner over audit failure

A former partner at PwC’s Brazilian firm has been fined $10,000 (£8,021) and given a two-year ban by the Public Company Accounting Oversight Board (PCAOB) for audit failures in relation to the accounts for US consumer goods and bakery supplier Sara Lee

Insight / Restauranteur jailed for cooking the books in VAT scam

An Edinburgh businessman who ran two Indian restaurants in the city has been sentenced to 21 months in prison, after his £86,000 VAT evasion was uncovered by an HMRC investigation

Insight / HMRC unpicks tailors £700K tax fraud

A father and daughter who ran a Chelsea tailors have been sentenced after pocketing around £700,000 that should have been paid in tax, following an HMRC investigation

Insight / Company director and ex-wife jailed for VAT fraud

The director of a fire safety and security firm and his ex-wife have been jailed for a total of six years and nine months for a £815,000 tax fraud after they were investigated by HMRC

Audit / EY US auditor settles $87k SEC insider trading charges

A former junior auditor with EY’s US firm based in Silicon Valley has paid over $87,000 (£70,000) to the Securities and Exchange Commission (SEC) to settle charges that he traded on inside information about a client on the verge of a merger, and has agreed to a five-year suspension as an accountant

Insight / Restaurant owner takes away disqualification for poor accounting

The director of a Chinese restaurant in Manchester has been disqualified for five years for failing to ensure the company kept proper books and financial records, following an Insolvency Service investigation

Insight / Landlord fined £200k over tax fraud

A businessman, who ran several property companies whilst also employed under PAYE but failed to declare his income or that he was a company director to HMRC, has been sentenced and fined £200,000 for evading £281,000 in taxes

Insight / Jail sentence for security boss’ £419k tax fraud

The director of an Aberdeen security company, which provided security staff for Donald Trump’s Scottish golf club among other customers, has been sentenced to four years in prison after he was convicted of a £419,000 VAT fraud and removing criminal property from Scotland

Accounting / Fake accounting sees US marijuana company profits go to pot

The US Securities and Exchange Commission (SEC) has issued a £12m fine on a California-based company which sold vending machines to dispense marijuana, for falsely touting ‘record’ revenue numbers to investors while some of its earnings came from sham transactions with a secret affiliate

Insight / Hotel directors disqualified over £31m bank loss

A married couple from London who were directors of five hotels, including one which featured in the film ‘Four Weddings and a Funeral’, have been disqualified after an Insolvency Service investigation found a bank suffered a £31m loss as a result of the manipulation of internal accounting at the group

Insight / Seven-year ban for failure to co-operate with liquidator

A director from Dundee who failed to co-operate with the liquidator and deliver up the company’s accounting records when his business was wound up has been disqualified for seven years, following an Insolvency Service investigation which found it was not possible to verify the company’s activities

Accounting / SEC uses satellite imagery to unearth $3.3bn accounting fraud

The US Securities and Exchange Commission (SEC) is to take enforcement action against Mexico-based homebuilding company Desarrolladora Homex, after deploying satellite imagery to uncover a $3.3bn (£2.68bn) accounting fraud relating to the fake sales of more than 100,000 non-existent homes over a three-year period

Insight / Called to account: March 2017

The latest scandals and penalties including a businessman who hid true income in £83k tax fraud, jail for farmers who milked £1.9m in VAT scam, heating company accounting records ‘hot air’

Insight / £60k tax fraud lands solicitor in jail

A criminal defence solicitor has been jailed for 18 months and banned as acting as a director for four years, after lying about his income to HMRC to steal £60,000 as part of a tax fraud
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