Watchdog sets date for ex-Langbar chief tribunal

THE PROFESSION’S watchdog has set a date for the tribunal hearing of jailed accountant and former Langbar chief Stuart Pearson.

An ICAEW member and former Baker Tilly partner, Pearson was found guilty last year of making misleading statements by falsely claiming former AIM-listed business Langbar had assets in a Brazilian bank. The business collapsed in 2005 when it was revealed this was untrue.

The Accounting and Actuarial Discipline Board, a sub-board of the Financial Reporting Council, filed a complaint to its disciplinary arm in 2006, alleging Pearson failed to act with due skill, care and diligence.

An independent disciplinary tribunal is due to take place on 3 February.

The complaint also claimed Pearson “made certain announcements being reckless as to the truth/falsity of the announcements and that he recklessly misled the investing public as to the true financial position of the company”.

Related reading