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I wonder why all these celebrities migrated to this accountant, I think he was the master of telling such clients what they wanted to hear, ' were the home dodging tax'.
I bet on refection most of his clients found Mr Mundays behaviour was unusual at best. But he was the master con-man. But I suppose its amazing what you can get away with if you tell people the net results of his such behaviour meant paying less tax. I dont think any off his clients he defrauded will get anything back.
The real moral of this story is 'if something appears to be to good to be true, it probably is'.
I wonder why all these celebrities migrated to this accountant, I think he was the master of telling such clients what they wanted to hear, ' were the home dodging tax'.
I bet on refection most of his clients found Mr Mundays behaviour was unusual at best. But he was the master con-man. But I suppose its amazing what you can get away with if you tell people the net results of his such behaviour meant paying less tax. I dont think any off his clients he defrauded will get anything back.
The real moral of this story is 'if something appears to be to good to be true, it probably is'.
I haven't seen anything about this case other than the article above - but it appears to me that the fraud was committed by a reasonably junior (earning £33k p.a.) member of staff so I doubt the perpetrator was all too involved in client contact(?).
This is one reason why I try to avoid having any online banking access for clients, and where I have to or they insist, I try and get it read only or otherwise restricted. I also prefer that any access is held at partner level only - I'd rather be inconvenienced by my manager asking me to run reports than have to explain to a client why half a million quid has gone missing without my knowledge.
I'm also fairly surprised by the number of clients willing to grant me complete access to their bank accounts containing (in some cases) hundreds of thousands or even millions of pounds. It's only when I explain my reservations that they seem to realise the stupidity of what they were suggesting.
Yes, I hate having any direct contact with client money. I know my insurers wouldn't cover me if any went missing and I got accused wrongly.
To quote Mark Twain
''if you have all your eggs in one basket, watch the basket''
Silky tongued advisers seem to have a way of gaining trust of wealthy celebrities, and parting them from thier money.
Internal controls at the advisory firm may have been lacking. The same silky tongued advisor appears to have outsmarted his peers who ,too ,fell for his charms.
We have been here before.
Nick Leeson a junior operative in the scheme of things , ''Rogue Trader '' of Barings, brought down a bank .
I am sure David Winch could reel off a list of case studies through the decades , to remind us of the scary frequency of such frauds and the deep seated effect on victims.
what were the intenal.
How could you do that to Rita Ora.
If she wants an honest accountant Tom, pass my number on.