ICA expels market rigger
A chartered accountant jailed for creating false share markets in a get-rich-quick plan has been expelled from the English ICA.
Michael Ward, former chairman and chief executive of European Leisure, was convicted at Southwark Crown Court in March 1995.
Ward, who was also ordered to pay #500 costs, was originally sentenced to 220-hours of community service, but in March 1997 the Court of Appeal substituted a sentence of two years in jail and disqualified him from being a company director for seven years.
Victor Christie, of Capstan Square, London, was expelled and fined #1,231 for post-dating audits submitted to the Audit Registration Committee.
Michael Thomas, of Rodmell, East Sussex was expelled and ordered to pay #500 costs for not providing a full response to the disciplinary committee, following an earlier failure to reply adequately to correspondence from another firm of chartered accountants.
Geoffrey Birch, of Walsgrave Road, Coventry, was expelled from the ICA and ordered to pay #180 costs for conduct relating to the handover of a client to a firm of chartered accountants in Rugby.
Roy Kelk, a finance director from Silsden, West Yorkshire, was expelled and fined #1,000 after pleading guilty to three counts of theft at Crown Court in December 1996 and receiving a 27-month prison sentence.
David Spriggs, from Beckenham High Street, Kent, was severely reprimanded and fined #3,000 with #1,000 costs for failing to pay a judgement debt.
It was his fifth time before the disciplinary committee.
Robert Wall, of Guildford Street, Chertsey, Surrey, was reprimanded and fined #2,000 with #800 costs after admitting he failed to provide information to the investigation committee.
John Nalson, from Burgh Heath, Surrey, was reprimanded and fined #500 with #1,000 costs for failing to give information to the institute.
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RT Sheppard & Co, of Over Wallop, Hampshire, was reprimanded and fined #2,000 with #3,000 costs for acting as auditor to companies in breach of the Companies Act.
Robert Young, of Ermine Business Park, Huntingdon, Cambridgeshire, was reprimanded and fined #1,000 with #1,800 costs after losing his appeal against breaking the institute’s ethical code on preparing fee notes.