Partners Shinder Gangar, 46, and Alan White, 49, have remained in custody being found guilty two weeks ago
Accountancy Age, 07 Mar 2008
The two accountants found guilty of perpetrating a $200m ponzi fraud are due to be sentenced on 11 April.
Partners Shinder Gangar, 46, and Alan White, 49, have remained in custody since a jury pronounced them guilty two weeks ago in the Birmingham Crown Court.
The pair stood trial following an investigation by the Serious Fraud Office which gathered enough evidence to prosecute them for duping investors into believing that celebrities - such as Lord Andrew Lloyd Webber and Sir David Frost - had invested in the scheme, when neither had.
The pair were also found guilty of trying to bribe the US Attorney General to release funds which had been frozen following an investigation into their US accomplice, Terry Dowdell.
Gangar, a former member of the ICAEW, whose membership lapsed in 2003 due to bankruptcy, was described as the ‘frontman’ of the operation.
White, a former member of ACCA, was the ‘administrator’ who would give investing clients the ‘co-ordinates’ of where they should direct their cash.
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