10 Jul 2012
ACCOUNTANTS AND AUDITORS were among those who helped a conman steal tens of millions of pounds from the taxman.
Thomas Scragg, of Hockley Heath near Solihull, who defrauded the public purse of £34m between 2002 and 2008, was handed one of the longest prison sentences in British legal history with a 17-year term.
Further reading
With the help of co-conspirators including accountants and auditors, he channelled stolen employee PAYE contributions through his business, Mona Payroll, which managed the staff wages of various construction industry companies, reports Metro.
The scam allowed Scragg and his two henchmen, brothers Carl and Anthony Johnson, to live in opulence, with the money spent on bullet-proof windows, lavish meals, hotel stays and luxury cars including a Lamborghini Murcielago, Ferrari Spider and Porche Cayenne.
Neighbours of the Johnsons – who were paid £2.4m by Scragg for their protection services – reportedly became suspicious of their lifestyles and informed the police.
They were convicted of money laundering at Birmingham crown court and will be sentenced at a later date.
Scragg was jailed for 13 years in November 2010, with his sentence extended by a further four years in March last year.
Ten other men were convicted on a range of charges including conspiracy to defraud HM Revenue & Customs, conspiracy to pervert the course of justice and money-laundering.
You may also like
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.
Visitor comments Add your comment
What happened to the accountants?
I'd be interested to know what happened to the professionals who assisted Mr Scragg.
Posted by: John Hunston, 12 Jul 2012 | 09:33