Versailles floated on the Alternative Investment Market in 1995 and grew to a market value of £630m by the time its shares were suspended in December after accounting irregularities were discovered. It is alleged that someone at Versailles created a false client list, each with fake profits, to help raise the company’s share price.
Frederick Clough, who is accused of a £50m fraud, is allegedly trying to delay the investigation led by PricewaterhouseCoopers and the Serious Fraud Office, the Sunday Times reported yesterday. It is now thought that the case will not go ahead until early 2001.
It emerged in June that backers who lost millions through the collapse are pursuing a court action in the British Virgin Islands to liquidate a company at the centre of the Versailles scandal.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel