PQ magazine is for part qualified accountants.
Read the latest web issue here – if you like what you see sign up today
Three accountants jailed for attempted redundancy swindle
21 December 2018
Three accountants who tried to steal £710,000 from a government redundancy fund for workers whose employer had gone bust have been jailed for a total of 15 and a half years.
Lennox McLeod recruited fellow accountants Francine Francis and Mohammed Nadeem to work for him and help commit the fraud, an HMRC investigation revealed.
In all 105 false claims totally £710,000 were submitted to the Redundancy Payment Service (RPS) over a six-year period, for employees of insolvent companies.
In a separate case at Croydon Crown Court McLeod also admitted a £11,332.82 VAT repayment fraud between 2014 and 2017, where he pocketed VAT refunds paid to The Luxe Agency Limited after ‘taking over’ the business when they company’s director die.
McLeoad denied cionsiprary to cheat the public revenue and was sentenced to six and a half years jail. He denied money laundering and was given a three-year sentence, and denied possession of false documents for which he was given a none-month sentence. All sentences will run concurrently. He was also sentenced to two years six months for the VAT fraud, meaning he has a total jail sentence of nine years.
Francine Francis was sentenced to four years in jail and Mohammad Nadeem to two years and six months.
Subscribe to RSS