Called to account

Insight / Restaurant director roasted for lack of accounting records

The director of a London Indian restaurant has been disqualified from acting as a company director for seven years after failing to provide adequate accounting records

Insight / Ban for jewellery seller over tarnished accounting records

Gary Wright, director of a watch and jewellery wholesaler, has been banned from acting as a director for six years for failing to provide adequate company records, while also treating HMRC detrimentally in comparison to other creditors when the company went into liquidation

Insight / FCA bans couple for misappropriating £6m debt management funds

The Financial Conduct Authority (FCA) has banned a husband and wife team who ran a debt management firm for dishonestly misappropriating client funds, after more than 4000 customers lost over £6m as a result of their actions

Accounting / FCA fines Merrill Lynch £34.5m over derivatives reporting failures

The Financial Conduct Authority (FCA) has fined Merrill Lynch International (MLI) £34.5m for failing to report tens of millions of exchange traded derivative transactions over a two-year period under the European Markets Infrastructure Regulation (EMIR)

Insight / Roofer’s £102k tax fraud falls through

Richard Cakebread, a self-employed roofer, has been jailed for 20 months for evading £88,000 in VAT and stealing a further £14,000 by failing to pay income tax, following an investigation by HMRC

Insight / Sham company director fakes death to avoid 14-year disqualification

In move described by the Insolvency Service as ‘bizarre’ a man who ran a sham TV company, which he claimed had a turnover of £4.7bn, got a friend to claim he had died, in order to avoid disqualification for dishonest attempts to obtain credit made through a limited company

Accounting / FCA mines Rio Tinto for record £27m fine over disclosure failings

FTSE 100 mining giant Rio Tinto has been fined a record £27.4m by the Financial Conduct Authority (FCA) for breaching disclosure and transparency rules, and is also facing fraud charges brought by the Securities and Exchange Commission (SEC) in the US against both the company and its former CEO and CFO

Insight / Former escort agency owner jailed for £212k tax fraud

Janine Adeleke has been jailed for three years after an HMRC investigation discovered she lied about the income from her escort agency to avoid paying £212,000 in tax and fraudulently claim over £37,000 in state benefits

Insight / Maltese Panama Papers investigator murdered

Maltese investigative journalist Daphne Caruana Galizia, who worked on the  Panama Papers inquiry and published allegations about the use of offshore tax havens by senior political figures on the island, has died in a car bomb explosion

Insight / Furniture director shelved with six-year ban

The director of a children’s furniture retailer has been disqualified for six years for removing £121,500 of company funds to avoid paying taxes when her business collapsed

Insight / Director ban for tax-avoiding football tour operator

Kenneth Moyes, who ran a company organising pre-season tours for top division football clubs, has been disqualified for five years from acting as a director after he withdrew cash from the company to avoid over £250,000 in tax payments

Insight / Car parking company £466k tax fraud puts boss in jail

The boss of a Manchester parking company has been jailed for stealing more than £466,000 of his employees’ tax payments following an HMRC investigation

Audit / FRC fines EY £1.8m over Tech Data audit misconduct

EY has been reprimanded and fined £1.8m, reduced from £2.75m, after admitting misconduct in relation to the audit of the financial statements of Tech Data Ltd (formerly known as Computer 2000 Distribution Ltd), for the financial year ended 31 January 2012, following an investigation by the Financial Reporting Council (FRC)

Insight / Insolvent financial adviser couple banned for hiding assets

A married couple who used hidden funds to maintain a lavish lifestyle after their financial advisory business collapsed have been banned from working in financial services for integrity failings by the Financial Conduct Authority (FCA), which has fined the wife £50,000 for attempting to mislead the regulator during an FCA interview

Insight / Accountant to pay £2k over VAT security bond failure

A Lymington accountant has been ordered to pay compensation of £2,000 plus costs for failing to pay a security bond, enforced by HMRC, to ensure VAT payments until three days before the case went to court
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