Called to account

Insight / Fraudsters in Ponzi-style housing investment jailed

Two student housing investors have been jailed after establishing a ‘Ponzi’-type scheme to pay-off financiers of their previously failed companies by defrauding clients

Insight / Regulator investigates £800k charity transfer

The Charity Commission has opened a statutory inquiry into Devon Charitable Trust, a Harrow-based charity, over concerns about the transfer of thousands of pounds of funds to a trustee’s bank account and the handling of donations

Insight / Called to account: June 2019

The latest scandals, convictions and penalties this month include a celebrity accountant jailed for £3.5m fraud, director banned over £5.6m football stadium accounting own goal, a restauranteur cooks VAT books and time called on pub landlord’s £7m tax errors

Insight / 'No evidence of charitable activity’ at Gaza aid charity

The Charity Commission has published a highly critical report on Viva Palestina, the aid charity founded by former MP George Galloway, saying it may not have conducted any charitable activity or distributed any humanitarian aid, and finding its former trustees were responsible for mismanagement

Insight / Charity and trustees removed for ‘serious abuse’ of funds

The Charity Commission has removed a charity and its trustees from its register, after an investigation uncovered ‘serious abuse’ of its funds, including spending on gym memberships and TV subscriptions, and no evidence of any charitable activity

Insight / Seven-year additional restriction for boss over £500k diversion

A textiles boss who diverted over £500,000 of company funds for his own benefit has been given seven years of additional bankruptcy restrictions following an Insolvency Service intervention following a legal challenge by the main shareholder of one of the companies involved

Insight / £1.8m fines for bank over outsourcing failings

Retail bank R Raphael & Sons has been fined a total of £1.8m by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) for failing to manage its outsourcing arrangements properly, with the failings leading to thousands of customers being unable to use their cards on Christmas Eve 2015

Insight / Charity treasurer jailed for £330K gift aid fraud

A charity treasurer who tried to steal more than £330,000 in a gift aid repayment fraud has been jailed for three years, after a court heard he spent thousands of pounds on luxury holidays for himself and others

Insight / Charity finance manager jailed over £170k invoice fraud

A charity finance manager has been jailed over a fraud to steal £170,000 using fake invoices from a London-based charity for vulnerable people

Insight / Porsche loving ringleader of £300k tax fraud trio jailed

The Nottingham ringleader of a trio of fraudsters, who used a network of companies and false identities to steal nearly £305,000 through VAT, income tax and tax credit frauds to pay for Porsche sports cars and rent a four-bedroom house, has been jailed for four years

Insight / Restaurant owner jailed for £480k tax fraud

The owner of a Derbyshire restaurant has been jailed for three years for a £480,000 tax fraud that was discovered when investigators uncovered a hidden sales book dating back five years

Insight / FCA halts £1m unauthorised investment scheme

The Financial Conduct Authority (FCA) has won a legal case against an unauthorised investment scheme, which took in at least £1m from investors, most of which was spent on promotions and luxury purchases

Insight / Travel boss banned over £400k unexplained payments

The director of a Chatham-based travel agency has been banned for seven years after a lack of accounts meant it was not possible to explain thousands of pounds worth of company payments

Insight / Pub landlord banned for £7m tax inaccuracies

A pub landlord who operated several pubs and bars across Nottingham and Derby has been banned for 11 years, after causing his company to submit inaccurate documents to tax authorities, with some £7m of tax owing

Insight / Horse racing investors face multimillion insolvency losses

Members of a horse racing syndicate, Layezy Racing Owners Club, whose owner has been declared bankrupt face losing millions of pounds, because the insolvency means the horses are not able to run under the regulations of the racing industry’s ruling body