A Lincolnshire accountant has been given a suspended jail sentence for committing fraud, after being caught by HM Revenue and Customs. However, since he is now bankrupt, he has only been forced to repay £1 of the funds he swindled.
Alan Budd, 56, of Nurses Lane, Skellingthorpe, meddled with cheques from clients adjusting the payee name to his own firm, AMB Accounting. The fraud came to light when a client of Budd’s was due £9,000 in tax rebates for overpayment, but never received the funds. At Lincoln Crown Court yesterday, prosecutor Jeremy Janes said: “A number of individuals were affected. The amounts vary from a few hundred pounds to £5,000.“For two years he was entitled to relatively hefty tax rebates of about £9,000 each through overpayment for self-assessment.“The defendant had registered his address for correspondence. He obtained these cheques and put them into his own bank account.“Mr Allen discovered that by chance. He realised he was owed some £18,000 and had it out with Budd. At that stage, Budd made a variety of excuses and offered to pay some of the money back. Gordon Aspden, defending, told the court that Budd had health issues, including a bad back and according to the Lincolnshire Echo was ‘being treated with morphine to control his pain’. Recorder, Christopher Goodchild told Budd: “Your offences of theft amount to a breach of trust, but I accept you are not a well man.” According to the Lincolnshire Echo ‘Budd had earlier used deception to purchase a £16,000 new Mini car, Budd used a different address to conceal the fact that he had a series of County Court Judgements against him’. Despite benefitting by £56,741 through his fraudulent activity, he was declared bankrupt in February so was only ordered to pay a nominal £1 after he was found to have no realisable assets. Mr Budd admitted two charges of theft, totalling £18,624, between August 2008 and February 2009, and was handed a 12-month jail sentence suspended for two years with a six-month night-time curfew.Manchester debt firm is liquidated owing creditors over £2.2m
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