Accountant gets maximum 15-year ban over £2.3m fraud scheme
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A NORTH YORKSHIRE accountant has been banned from taking on directorship roles and jailed for six years after taking £2.3m from investors.
George William Langdale from Bentham admitted deception and fraud charges at Bradford Crown Court.
He was also disqualified for 15 years, the maximum period permitted by law.
North Yorkshire Police investigated the so-called “Ponzi scheme” that Langdale undertook.
Between 2002 and 2013, he told clients that funds they “invested” would be placed in a high interest-bearing savings account, requiring a 90-day notice period before withdrawal.
He was accused of taking investments ranging from £10,000 to £260,850 from 28 people across Lancashire and Yorkshire.
Langdale then used the funds to pay back earlier investors. Only £1.1m was repaid of the £2.3m that was entered into the scheme.
Prior to this conviction, in August 2014 he had been convicted on indictment of obtaining a money transfer by deception.
On the 4 February 2016, District Judge Forrester ordered Mr Langdale’s disqualification for the maximum period permitted by law of 15 years, with effect from 25 February.
Langdale had traded as an accountant in the Lancashire area from 1993 and in 2003 Langdales Accountants Limited was incorporated to continue the work of his sole trader business.
Robert Clarke, group leader of Insolvent Investigations North at the Insolvency Service, said: “The imposition of a ban for the maximum period of 15 years sends out a clear message that where a company director abuses a position of trust in order to persuade clients to part with their money, the Insolvency Service will take action to remove that director from the business environment for a lengthy period of time.”