Headline:
CHEATING ACCOUNTANT JAILED
Description:
A 39 year old Accountant and father of 3, Gregory Huggett is today beginning a 5-year prison sentence after pleading guilty to 6 offences on 30th March 2006.
Huggett pleaded guilty to charges of cheating H M Revenue and Customs (HMRC), obtaining money transfer by deception in regard to an investment fraud and Conspiracy to Defraud.
He was previously in partnership with his mother and father at offices in Upminster Road South, Rainham, and Essex, trading as Huggett Gregg & Co.
Huggett requested that some of his clients pay their tax liabilities to the accountancy firm so that he could keep track of the amounts paid. He agreed to forward the tax on to the Inland Revenue (HMRC) on their behalf. Over a 4-year period, from 1999 to 2003 Huggett stole over £790,000 of his client's money to fund an extravagant lifestyle.
In sentencing Huggett at Middlesex Guildhall Crown Court Judge Mathieson said:
"Your clients have suffered a great deal because of what you have done. You have caused many of them serious problems. Some have suffered stress, lost their businesses, some who had retired have had to return back to work"
Huggett then hid the fraud by submitting false tax returns to HMRC, understating the clients' liabilities without the clients' knowledge. The loss to HMRC was over £485,000.
He also defrauded clients and friends of over £580,000 through a bogus investment scheme in 2002 and 2003. The case was a joint investigation between HMRC, and the Metropolitan Police Money Laundering Investigation Team.
The monies were spent on expensive cars, including 2 Ferraris and an Aston Martin, lavish holidays and the purchase and refurbishment of a large detached house in Hall Lane, Upminster, Essex. Mr Huggett was made bankrupt in 2004 owing over £4.5 million.
HMRC Investigator Rob Mortlock said:
"HM Revenue & Customs expects professionals such as accountants who act on behalf of taxpayers to be entirely professional and honest. Gregory Huggett has abused the trust of his clients and his failed in his legal and professional responsibilities to HMRC. He has cheated family, his friends, clients and all honest taxpayers."
source: hmrc website
Huggett pleaded guilty to charges of cheating H M Revenue and Customs (HMRC), obtaining money transfer by deception in regard to an investment fraud and Conspiracy to Defraud.
He was previously in partnership with his mother and father at offices in Upminster Road South, Rainham, and Essex, trading as Huggett Gregg & Co.
Huggett requested that some of his clients pay their tax liabilities to the accountancy firm so that he could keep track of the amounts paid. He agreed to forward the tax on to the Inland Revenue (HMRC) on their behalf. Over a 4-year period, from 1999 to 2003 Huggett stole over £790,000 of his client's money to fund an extravagant lifestyle.
In sentencing Huggett at Middlesex Guildhall Crown Court Judge Mathieson said:
"Your clients have suffered a great deal because of what you have done. You have caused many of them serious problems. Some have suffered stress, lost their businesses, some who had retired have had to return back to work"
Huggett then hid the fraud by submitting false tax returns to HMRC, understating the clients' liabilities without the clients' knowledge. The loss to HMRC was over £485,000.
He also defrauded clients and friends of over £580,000 through a bogus investment scheme in 2002 and 2003. The case was a joint investigation between HMRC, and the Metropolitan Police Money Laundering Investigation Team.
The monies were spent on expensive cars, including 2 Ferraris and an Aston Martin, lavish holidays and the purchase and refurbishment of a large detached house in Hall Lane, Upminster, Essex. Mr Huggett was made bankrupt in 2004 owing over £4.5 million.
HMRC Investigator Rob Mortlock said:
"HM Revenue & Customs expects professionals such as accountants who act on behalf of taxpayers to be entirely professional and honest. Gregory Huggett has abused the trust of his clients and his failed in his legal and professional responsibilities to HMRC. He has cheated family, his friends, clients and all honest taxpayers."
source: hmrc website
Date:
07.07.2006
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