Accountants Shinder Gangar and Alan White, earlier found guilty of defrauding victims of $200m, have now been sentenced to seven years in prison for conspiracy to defraud and for conspiracy to corrupt.
The former partners of Dobb White & Co were sentenced in the Sheffield Crown Court by Mr Justice Langstaff, who said described the fraud as 'deeply corrosive' in that 'the defendants obtained money from victims, that many of the victims could ill afford to part with, for instance money set aside for retirement funds.’ He also said that the ‘fraud was sophisticated as the defendants effectively ran a bank in the Caribbean as part of their fraud,’ and added that ‘the defendants covered their gains by subterfuge by placing ownershipof their homes in the hands of nominees.’
Gangar was described as having ‘great ability and personal charm’ and that ‘he was aware from the mid-1990s that such investment schemes did not exist,’ he was a ‘plausible, effective salesman and advocate,’ that ‘it was a disappointment how he had ‘chosen to use his talents.’
Of his co-defendant White the judge said ‘he was instinctively more careful and should’ve stopped the scheme,’ that ‘whereas Gangar was the salesman, White was the accountant and back room boy.’
SFO lawyer Kwadjo Adjepong said the case was 'challenging and complex' in its preparation.
'It took careful and meticulous investigation. Hundreds of witnesses had to be interviewed and evidence was obtained from over ten overseas jurisdictions. This outcome demonstrates the effective combination of the expertise of SFO lawyers, investigators and Leicestershire Police. It is a significant step in assisting the victims of this fraud to obtain justice,' said Adjepong
Further reading:
Celebrity scam duo to appeal fraud conviction
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