Telecom directors sent to jail for fraud
Two company directors have been sentenced to a total of 6 years imprisonment for defrauding shareholders of around £2.5m.
Marios Andreas Nicolaides was sentenced to three-and-a-half years in prison and disqualified from acting as a company director for seven years while Brian Harry Atkins was sentenced to two-and-a-half years and disqualified as a company director for five years.
The Central Criminal Court found the two guilty of defrauding shareholders of Free Dot Net Plc and Discount Telecom Plc, which were set up to provide internet access and low-cost telephone calls.
The Serious Fraud Office said the two men had used the companies to fraudulently enrich themselves by creating false or inflated invoices from a variety of other businesses.