jailed financial advisers showed no remorse

A duo of London-based advisers has been jailed for two years after committing a £145k fraud, HMRC announced today.

jailed financial advisers showed no remorse
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Ghanian nationals Raymond Agbo, 42, and 26-year old Akua Owusu tried to claim the sum in gift aid saying that fictitious UK taxpayers had donated to the Church of Grace Ministries.

Back in January the pair was found guilty of two counts of conspiracy to cheat the public revenue and submitting false documentation to HMRC to support that claim. They returned to the Old Bailey for sentencing on Wednesday.

The crime was committed through the financial services company Mondvi & Co, which Agbo and Owusu ran.

Through the company they processed a Gift Aid repayment claim for £144,800 on behalf of the church and to support the claim they provided false documentation – including the names and addresses of donors who did not exist.

David Margree, assistant director, criminal investigation for HMRC, said: “Agbo and Owusu had the financial knowledge to make a determined attempt to steal from honest people. They submitted the false claim knowing that it was an abuse of a scheme designed to help charities in need.”

In his sentencing on Wednesday, His Honour Judge Marks QC, said the fraud was deliberate: “You both played an active part in the fraud… you have shown no iota of remorse for what you have done,” he added.

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