October 25, 2012, 10:40 am
The former head of a British accounting firm was sentenced Wednesday to four years in prison for a scheme that netted clients nearly $112-million in tax breaks for donating overvalued stocks to charity, the Financial Times??s?FT Adviser reports.
Regulators said Roy Faichney, as managing director of Vantis Tax Ltd., co-orchestrated a plot to get wealthy clients to buy shares in shell companies he and a deputy set up and listed on the Channel Islands Stock Exchange. The accountants used phony transactions to inflate the share values, greatly increasing the owners? tax relief for donating the stock.
According to a statement from Her Majesty?s Revenue and Customs, the U.K. tax agency, Mr. Faichney and a deputy, David Perrin, personally made some $7.2-million from the fraud. Mr. Perrin was convicted in January for his role in the scheme.
This entry was posted in News-updates. Bookmark the permalink.m.i.a. adrianne curry hoekstra best superbowl commercials 2012 best super bowl ads chrysler super bowl commercial madonna half time show
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.