BusinessCompany NewsCourt date set for chiefs from former McAlpine division

Court date set for chiefs from former McAlpine division

Three directors of Slate, a former subsidiary of Alfred McAlpine will be in the dock next week following accounting scandal

Three former directors of Slate, previously a subsidiary of Alfred McAlpine,
will appear in court next week to answer charges of fraud after an internal
audit probe uncovered accounting irregularities.

Christopher John Law, former managing director, Paul Michael Harvey, former
sales director and Geraint Roberts, ex-operations director will appear before
Caernarfon Magistrates’ Court on 12 November 2008, the SFO said in a statement
today.

Alfred McAlpine plc reported to the stock market on 26 February 2007 that its
internal audit team had uncovered a systematic misrepresentation of production
volumes and sales for a number of years by senior managers at Welsh Slate which
would lead to a restatement of the 2005 net assets and a reduction in the
expected pre-tax profits for 2006.

Although he was not implicated, McAlpine’s group FD Dominic Lavelle
stepped
down
as finance director in the wake of the scandal.

The trio are in court after a joint investigation by the Serious Fraud Office
and North Wales Police.

‘The charge is that between 1 January 2004 and 26 February 2007 they,
together and with others, were knowingly parties to the carrying on of the
business of Welsh Slate for a fraudulent purpose in that they misrepresented to
Alfred McAlpine plc the amount of sales achieved by Welsh Slate, contrary to
s.458 of the Companies Act 1985,’ the SFO said.

Further reading:

Accounting
scandal wipes £11m off McAlpine’s books

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