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Accountant jailed for part in credit fraud

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29th Jan 2015
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A former accountant has been jailed for three-and-a-half years for his part in a £750,000 credit fraud. 

Ernest Wayne Pulman from Swansea, was found guilty of conspiracy to commit fraud by false representation, fraudulent trading and conspiracy to steal at Newport Crown Court last week. He had pleaded not guilty. 

The fraud reportedly funded a "lavish" lifestyle for some of the firm's senior people, according to the South Wales Evening Post.

Pulman had  provided financial advice to MJL Group Ltd. The firm had provided small companies with business advice. 

The accountant, from Mayals Road, had denied conspiracy to commit fraud by false representation, fraudulent trading and conspiracy to steal but was found guilty and was sentenced.

Three more have also received sentences for their party to the fraud. In Cardiff Crown Court previously, the court heard how Philip Murray Shelly, the director, had planned and directed the manipulation of funds from a credit company to MJL Group. 

He had pleaded guilty to commit fraud by false representation and was sentenced to five years' imprisonment.

Shelley ran the company with his wife Margaret Jean, who was also sentenced. She pleaded not guilty received a two-and-a-half year sentence. 

In addition, Andrew Wallace from Ebbw Vale pleaded guilty to conspiracy to commit fraud by false representation. He was given a 20 month suspended sentence for two years, with 300 hours community service.

The fraud was described by Judge Tom Crowther as being "sophisticated" and one that had needed constant work and attention. It was discovered after a three year investigation by South Wales' police crime unit.

Philip Murray Shelley had planned the fund manipulation from a credit company to MJL over a long period of time. MJL gained the trust of the credit company, which gave credit agreements to businesses who used MJL's services. These had to arrange for the credit company to pay MJL in full and would then pay money back via installments with interest. 

MJL however gained more money from the credit company by creating fake business contracts, which caused the credit company to make a £750,000 loss and as a result, some staff lost their jobs without redundancy.

The money reportedly went to fund the "lavish" lifestyle of the directors, and the court heard how Jean Murray Shelley had lived in a £1.6m masion in Brecon abd drving a Porsche 911.

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