Accountant banned for £160k fund diversion


An accountant has been excluded from ICAEW membership for dishonestly withdrawing £160,000 over a nine-year period from a limited company for personal use.

As reported on the in April ICAEW disciplinaries, London-based Peter Maxwell Featherman diverted the money to his own account without the consent or knowledge of shareholders and directors of the company between 1998 and 2007.

Featherman, a former 30% shareholder and director of the company who was heavily involved in it until 2008, said his finances became “muddled” with that of the company.

The accountant was excluded from institute membership for at least...


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George Gretton's picture


George Gretton | | Permalink

Get the Beggars!

So thats it -is it?    1 thanks

Roland St Clere... | | Permalink

Others who have stolen far less are sent to prison.. yet Mr Featherman escapes scott free!

Is it because he mixes in the same circles as police and magistrates and

is able to have "a quiet word" ? 

Agreed. Shouldn't the Police    1 thanks

Davidgblackburn | | Permalink

Agreed. Shouldn't the Police be involved?

Well done    1 thanks

The Black Knight | | Permalink

George Gretton wrote:



There's actually loads more fraud seemingly lurking around, now that I have crawled around in Accounts from Companies House (even abbreviated) and compared essentials with the person on the receiving end. And that's before we get stuck in on the Property side.

My middle name is "Nemesis".

Yours, Sherlock

a bottomless pit of fraud and tax evasion, the evidence all lodged at companies house.

Well done you.

The black knight

ver1tate | | Permalink

That is what the Companies Act and companies house are there for. Why the Companies Act has not been used to prosecute more directors who knew, or should have known, that their companies were bankrupt and therefore trading illegally making the directors responsible for all debts, as possibly in the case of Glasgow Rangers, defeats me.

Congratulations. It is about time some of the big accountancy firms were found guilty of negligence or perhaps even complacency or------

Victimless crime

The Black Knight | | Permalink

I think it is regarded a as a victimless crime.

1, HMRC do not know about the companies act,and don't care either as its not on their jobs list for the day.

2, Companies house is only a large filing cabinet full of misinformation.

3, Insolvency practitioners want a quick clean job with no fuss, and offer little protection to creditors that you would expect when reading the insolvency act.

4, Solicitors draw sharp breath and decide it's to much effort or don't get it either.

5, The Insolvency service are about as much use as a chocolate teapot

6,larger creditors have credit insurance so the insurance company pays them. Insurers haven't worked this out either.

7,Smaller creditors do not even know the power they have and do not believe you when you tell them.


There is a gold mine waiting for all those groups if they woke up. might even clean up UK plc and get the economy moving but there must be a reason why this is not allowed?

s.993 companies act 2006 looks well scary, but that's all it does.




George Gretton's picture

A reason why this is not "allowed"?    1 thanks

George Gretton | | Permalink

Hello The Black Knight, Kindred Spirit with my Lady Nemesis, but let's keep this clean,

I have a theory about this! [Yawn, sigh, oh my Codd, George is off on another of his rants!] [Or perhaps just "Opinionated *******".]

For me the "Not allowed", "Not on!", "Not Nice, Dear, at ALL" is purely a Social and Cultural phenomenon that exists pervasively, and even in supposedly call-a-spade-a-spade "Fraud" environments. 

In my pursuit of the IBD, I have encountered so incredibly much outright active resistance to investigating allegations that it beggars belief. 

Companies House, The Charity Commission, the Scottish ditto, The Company Investigation Department at the BIS, The Insolvency Service at the BIS, the Metropolitan Police. 

When I was speaking to a "Lady" in the Companies House "Fraud" Department, I referred her to the fact that Directors "Resignations" and "Appointments" were being processed in batches of 10, with "Resignations" being in arrears by up to 2.5 years. What did she say in return?

"Oh, I couldn't POSSIBLY comment of that!" 

In a smaller "case", I recently picked up a chap called Raff Ibbott, a Recruitment "Consultant", trading as "Lancaster Douglas Consulting Ltd", which has been ever-increasingly insolvent since 2005 - deficit now at about £70,000.

He used to work at Reed Accountancy, and I spoke to a current consultant that was advertising the same piece of work as was Ibbott. Boy (girl?) did she get hoity toity, and hot under the collar (Phew!), about me talking about a bent beggar! Not On! End of conversation!

Returning to the IBD, it has a bent Trustee / Director called Professor Graham Stewart, who is "Professor of Brewing" at the Herriot-Watt University in Edinburgh, one of a crop of bent Professors (and Doctorate in Brewing people) associated with the IBD (Why? How? I just don't know). 

He gave a non-existent home address to Companies House, except that the Moron gave his place of work postcode as it happens. I tracked him down there anyway.

I tracked him down, definitively, to the HW Uni, and wrote to him there. My letter was returned "Gone away", when I had been unambiguously assured, just a few days earlier, by a telephone receptionist, that he was ongoing.

I invited Companies House, The Charity Commission, and the Scots Charity people to go and bend his ear, but NOBODY DID. And supplying false information to CH is a CRIMINAL offense. A Gift, wonderful for the Conviction Stats!

There's a Professor Katherine Smart involved, and a Dr Michaela Miedl, and the Chief Engineer (Treasurer since 1999/2000) is Kenneth Joseph Fairbrother of Derbyshire, with the very well paid oily rag a Simon Jackson of Salisbury. 

One is speechless. I must finish that letter to Jo Swinson.

Yours, George, Thursday 11th April 2013, 12:20 BST


The Black Knight | | Permalink

They must need the deficit for political purposes?

Although State employees are severe jobsworths.(With the exception of nurses and doctors)

Unfortunately they are trained to argue with whoever is there, and the trouble is you have provided them with some good information that they then see a duty to argue with.

We must stumble over hundreds of thousands of pounds a week in missing tax.

Drives you mad when the genuine are having a struggle to pay the bills.


George Gretton's picture

More "Resignations" from the IBD!

George Gretton | | Permalink

It sometimes can be weird.

I was typing the text above when I got an "incoming" email to alert me to new Companies House filings re the IBD. What timing!

There were, yesterday, 3 "Resignations",

Susan Catherine Chisholm

Ian James Richard Jones

Duncan Robertson MacKenzie Kellock.

I wonder if they ever know that they were Directors? The IBD now sets EVERYBODY up with that totally scandalous "Registered Office as Service Address" cover-tracks option.

And equally scandalously, the identity of the Electronic Filers can only be obtained by a Data Protection request by the likes of the Police.

If anybody actually knows any of these perhaps innocent souls, please let me know their whereabouts


The last dodgy-looking "Appointment", since that of Dr Miedl, was of a 

Dr Peter John Channon BSC PHD, born 1947.

Simple Simon Jackson filed this manually. 

Does anybody know of him?

Yours, George, Thursday 11th April, 12:51 BST


They were caught

jmsynge | | Permalink

And these were the ones who were caught. I'm afraid there is a lot of dishonesty about.; and people in positions of trust are (often misguidedly) assumed to be trustworthy. I dare say much more goes on like this which is not uncovered. The only deterrent is criminal justice which appears to be wanting in this (and other) cases where the toothless ICAEW or other professional bodies are incapable of bringing the memebers properly to book.

George Gretton's picture

About "toothless".............................

George Gretton | | Permalink

Hello JMSynge,

I greatly warm to most of your observations. 

There are a lot of "WCC"s about, where the "WC" stands for White Collar, and the "C" does NOT stand for "Chaps". 

My recommendation, when one asks oneself, "Did I REALLY hear that person say what he just did?!", is to say "I actually did; I'll check out what other drivel this individual has come up with in the past that I previously just felt a bit uneasy about."

My instant eye-opener re the IBD, which took place very early on, occurred when Simple Simon Jackson, Chief Executive and Company Secretary, and on a huge salary, said to me over the phone "I do wish that we didn't have to file accounts at Companies House."

From there it very quickly got much, much worse, and then I finally dug up the money laundering. The case, 1924 340/12, been with Westminster CID for months, but I have just re-reported it to Action Fraud.

The ICAEW does have sharp teeth, when it wants to.

In September of last year they fitted me up with a manufactured and fabricated Complaint, under Bye-law 51(b), "Engaging in Public Practise without a Practicing Certificate".

Seeing as the last income I had since 2008 was in mid 2011, when I earned £5,500 over 3 months as a bookkeeper, they were always going to have a problem to make it stick, but it took until mid-November for them to climb down.

My totally personal view is that Chantrey Vellacott, the IBD's "Auditors", with whom I had tangled somewhat nastily, put the ICAEW up to that. 

When it all eventually implodes and explodes I want to be in on action when Felicity Hargreaves, my "Case Manager" gets interviewed under caution. Then we may get some names.............................................

Yours, George, Monday 15th April 2013, 11:50 BST


They pick on easy targets

Roland St Clere... | | Permalink

THe ICAEW are the same as the ACCA , the Police and other so called regulators who are

full of socially inadequate jobsworths who have n't the guts to get after the real criminals

who have fleeced us all.

I have read that the Plod intend rounding anti Thatcher protestors under the Section 5

 of the Nazi style Public Order Act, passed by Blair,who has questions to answer regarding war crimes,

on the grounds that they( the protestors) might cause "alarm distress and harassment" to those attending the

funeral. The Nazi Police could not have cared less about the mining communities they helped to destroy or the

criminal cover up following Hillsborough.



Brads.Kings | | Permalink

Despite what the ICAEW say about the basis of the costs levied, I am surprised how high the costs normally are, eg fine of £2,000 and costs of £3,500 for not having professional indemnity insurance.  I would have thought that either you have or don't have PII so the ICAEW should not need to spend a lot of time establishing the lack of PII.

Does anyone know how the costs are calculated?


George Gretton's picture


George Gretton | | Permalink

Poorly. Arbitrarily. Not on any rational basis, but to put people in their "right" place.

Anon, Thursday 25th April 2013, 14:35 BST