Financial Crime Case Report

Written 12th January 2022 by Toby Wilbraham

Olliers solicitors represented Mr AO recently after he was prosecuted for 3 allegations arising out of the winding up of his business. As the business came to an end money was transferred out to 2 different sources. £43,000 was transferred to a relative to assist them to purchase a house. A number of other transactions totalling over £1 million were also siphoned out of the business. The Insolvency Agency believed that these transactions were suspicious and the companies accounts did not adequately reflect these payments.

Mr AO was charged with 3 offences namely:

  1. Fraud in anticipation of winding up;
  2. Making a material omission in a statement relating to a company’s affairs; and
  3. Failing to cause a company to keep accounting records.

Mr AO accepted that at the time the company was wound up, he failed to adequately manage the business accounts due to personal difficulties he was having at the time including his marriage breakup, business collapse and being subject to a fraud himself. After taking advice he pleaded guilty to counts 1 and 3. The case was adjourned and mitigation was obtained from a variety of sources that was helpful.

He was sentenced and was relieved to receive a suspended sentence, with ancillary community sentences.

He stated: 

Today I woke up for the first time in over 4.5 years, without the worry of the past looming over me. I know that you guys look after people like me for a living, and at times during the past months I have been challenging and overzealous. What I want to say to you both is ‘Thank you’.

It is with your sound guidance and focus that yesterday will rank as one of the best days in my life so far. The result was down to your hard work and patience, coupled with a huge amount of knowledge of the system. You will never know just how much you have both changed my future, and I will be eternally grateful for that.

I wish you both the very best for the years to come and with the greatest respect – I really hope I don’t get to see you again…. Unless of course you fancy a celebratory pint sometime in the near future, and if you do the drinks will be on me…

Thank you again from the bottom of my heart.”

Mr AO was represented by Toby Wilbraham from Olliers and Lee Hughes from Lincoln House chambers.

Toby Wilbraham

Toby Wilbraham



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