PracticePeople In PracticeJailed accountant must pay up or face longer sentence

Jailed accountant must pay up or face longer sentence

Former ICAEW accountant must pay back £200,000 to fraud victims or stay in jail for longer

A FORMER ICAEW accountant jailed for fraud and theft will face a longer term if he fails to pay back his criminal proceeds in the next six months.

John Michael Prescott, a 62-year old from Skelmersdale, was jailed for four years in 2010 after defrauding a woman of £100,000, having previously been struck off by the ICAEW.

Carlisle Crown Court found he had benefited by a total of £230,000, and has paid back £30,000 in compensation to his victims, reported The News and Star. He has six months to pay back the rest or face a further 32-month sentence.

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