RegulationCorporate GovernanceAccountant leaves Master of Queen’s Music nearly bankrupt

Accountant leaves Master of Queen's Music nearly bankrupt

Sir Peter Maxwell Davies felt "very foolish" over disappearance of his funds

Sir Peter Maxwell Davies said he was almost made bankrupt after his
accountant frittered away his half a million pound fortune.

Michael Arnold was jailed last week for 18 months for false accounting,
involving £522,333 of Sir Peter’s money.

Sir Peter, Master of the Queen’s Music, said in an interview with The
Times
that he felt “very foolish” over the diappearance of funds, which was
undertaken by his business adviser of more than 30 years.

He realised he had a problem when he attempted to withdraw £40 from a cash
machine only to be told he had insufficient funds.

“I now realise I should have been a millionaire but I thought all my work was
not worth much and that I was worthless as a person as a result,” said Sir
Peter.

Sir Peter received a sum from Michael Arnold and his wife in a civil suit
last year.

Further reading:

Vantis accountants appear in court
accused of tax evasion scheme

Read
The Times’ story

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