Called to account

Insight / SEC charges accountant over $6.2m insider trading

The US Securities and Exchange Commission (SEC) has filed insider trading charges against an accountant who tipped off a friend about confidential financial information

Insight / Accountant ordered to pay back £680K from fraud

An accountant from South Wales who stole more than £1.7m while working for the government of Bermuda has been ordered to repay thousands in compensation

Insight / Called to Account: July 2019

In this month’s round up of the latest scandals, convictions and penalties, an accountant avoids jail over £90k expenses fiddle, a Porsche-loving fraudster gets four-year sentence, a charity finance manager is jailed for £170,000 invoice fraud while the Charity Commission finds serious mismanagement and misconduct by the trustees and CEO of a poverty aid charity

Insight / Norfolk accountant jailed for £250k fraud

A man employed as a tax adviser by an accountancy firm for three decades has been jailed for defrauding his employer and clients out of almost £250,000 to pay for his gambling habit

Insight / RAF Honington mess charity caught up in £200k fraud

A Charity Commission class inquiry into the Royal Air Force (RAF) mess charities has found there were serious governance and management failures, which allowed a contractor to siphon off around £200,000 in charity funds over a four-year period at RAF Honington in Suffolk

Insight / Jailed ‘spy’ must repay £616k tax bill

A Norfolk tax fraudster, who claimed he was a spy in an attempt to cover his tracks, has been ordered to pay £615,000 or face a further five years behind bars

Insight / VAT carousel traders arrested over €2m drinks fraud

A group of VAT carousel fraudsters involved in a multimillion-euro scam involving the EU drinks market and missing trader intra-community (MTIC) fraud have been arrested across Europe

Insight / Extended restrictions for bankrupt who disposed of assets

A Lincolnshire auctioneer who helped a company in administration dispose of assets to the detriment of its creditors has had his bankruptcy restrictions extended for eight years

Tax / Grocery delivery company tops deliberate defaulters list with £1.14m tax bill

HMRC’s latest list of major tax defaulters owing over £16.5m in unpaid tax, was topped by a grocery delivery company owing £1.14m and a metal and industrial chemical company owing £1.1m, with buy-to-let landlords, online traders and accountants, also featuring 

Audit / KPMG slammed with £40m fine for changing audit results in US

The Securities and Exchange Commission has charged KPMG LLP in the US with altering past audit work after receiving stolen information about inspections of the firm that were conducted by the Public Company Accounting Oversight Board (PCAOB)

Insight / Charity chief executive failed to account for donations

Busoga Association (UK)’s chief executive acted without trustee oversight, with funds unaccounted for and external consultants hired without trustees' knowledge, finds Charity Commission

Insight / Second ban for shadow director

A banned Luton IT consultant, who caused his own company to fail to pay tax due, has been found to be acting as a shadow director of his elder sister’s company, and had his restrictions extended by 11 years

Insight / Accountant spared jail over £90k in phantom taxi trips

A chartered accountant with Big Four accounting firm Deloitte, who billed bosses for over £90,000 in phantom Uber taxi journeys during a three-year expenses scam, has been spared jail

Audit / Regulator slams Oxfam over governance failings

The Charity Commission has published a highly critical report on Oxfam GB, stating that aspects of the charity’s past record on safeguarding amount to mismanagement through governance failures, and saying there was a culture of ‘tolerating poor behaviour’

Insight / Seven-year ban for boss over charity collapse

The boss of a leading alcohol and drug addiction charity has been given a seven-year director disqualification for causing it to collapse by entering into financial contracts that set unachievable targets
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