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An accountant is reportedly having to pay back just £1 of the £300,000 he made through fraud. He did this by conning small firms and a variety of self-employed workers.

Apparently, the sixty four year old made this money by completing the accounts of his victims. It was whilst doing this, that Brian John Ridyard failed to tell HMRC about the money his clients should be paying to the Government. Instead, he pocketed the money for himself.

At a hearing, it was heard that the accountant had made £313,093 from his crime.

However, due to Mr Ridyard being declared bankrupt, he did not have any assets that could be seized. Therefore, he was charged £1 under the Proceeds of Crime Act.

This act though allows for the prosecution to apply for the confiscation hearing to reopened. That is if they find out in the future that the accountant does have assets.

Mr Ridyard was charged last year and sentenced to five years imprisonment. He pleaded guilty to twenty charges of ‘failure to disclose financial information to the Government’. This is something that all accountants are required to do by law when doing another individual’s or company’s accounts.

Some of those found to have been conned by Mr Ridyard were:
– An electrician
– Decorating firm
– Beauty salon
– Transport firm
– Security firm
– Specialist Vehicle Maintenance firm

Fraudsters like this aren’t the only ones you need to look out for either. In fact, HMRC have reported about a new scam going around where con artists are pretending to be HMRC. Take a look at the full report on this scam here.

So what do you think of this? Let us know in the comments below.

Source: www.yorkpress.co.uk

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