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Four accused of £1.3m Bermuda government fraud | Four accused of £1.3m Bermuda government fraud |
(about 3 hours later) | |
An accountant and his ex-headmistress wife fiddled £1.3m from the Bermuda government to buy luxury cars and properties, a court has heard. | |
Jeffrey and Samantha Bevan, of Cwmbran, Torfaen, are accused of laundering proceeds of £1.7m ($2.4m) stolen cash to spend on a lavish lifestyle. | |
Joel Ismail, 42, and Paul Charity, 52, both of Leicester, are also accused of taking part in the fraud. | Joel Ismail, 42, and Paul Charity, 52, both of Leicester, are also accused of taking part in the fraud. |
They have denied all charges and are on trial at Cardiff Crown Court. | |
The court heard Mr Bevan, a qualified accountant, began illegally taking taxpayers' money after moving his family to Bermuda in 2011. | The court heard Mr Bevan, a qualified accountant, began illegally taking taxpayers' money after moving his family to Bermuda in 2011. |
The 50-year-old moved for a £80,000-a-year job as payments manager in the office of the Accountant General of Bermuda while his 52-year-old wife taught at a school on the island. | |
The father-of-two is accused of making 52 bogus payments to himself before illegally transferring the money back to the UK in the name of the married couple. | The father-of-two is accused of making 52 bogus payments to himself before illegally transferring the money back to the UK in the name of the married couple. |
This was allegedly used to pay off the £140,000 mortgage on their house, invest in 11 properties in Newport, Swansea, Glasgow and Nottingham and buy two Mercedes Benz cars. | |
Prosecutor Tim Evans described Mr Bevan as a "gambling addict" with a "fascination with risk and trying to win big". | |
Paddy Power revealed Mr Bevan had made 18,853 bets online between November 2008 and May 2014. | |
He deposited more than £2m into his account on the site, later withdrawing the remaining £1,539,400. | |
The jury was told Mr Bevan quit his job after less than three years to move back to Wales - blaming his mother's poor health and the children's schooling. | |
An investigation in Bermuda uncovered a series of bogus payments including £65,000 ($89,000) to Chevron International and another for £52,000 ($71,000) to the Sylvia Richardson Care facility, the court heard. | An investigation in Bermuda uncovered a series of bogus payments including £65,000 ($89,000) to Chevron International and another for £52,000 ($71,000) to the Sylvia Richardson Care facility, the court heard. |
Mr Evans said: "Mr Bevan had gone by then. He went because he knew that he was about to be rumbled for a massive fraud." | |
Mr Bevan claimed the payments were for overtime while working for the Bermuda government, saying he earned £295 ($400) per hour working 35-hours a week but worked 50 hours a week on top of that. | |
Mr Evans said: "His defence will be that every cent of the $2.4 million was effectively overtime, over and above his basic and overtime hours, presumably tax free, and paid voluntarily and legitimately by the Bermudan government." | Mr Evans said: "His defence will be that every cent of the $2.4 million was effectively overtime, over and above his basic and overtime hours, presumably tax free, and paid voluntarily and legitimately by the Bermudan government." |
Mr Evans said members of the Bermudan government would give evidence "about how ridiculous his claim is". | |
Mr Evans said Mrs Bevan must have seen money pour into their joint account and "at the very least suspected that it was the proceeds of dishonest criminal conduct". | |
The jury heard Mr Bevan was being prosecuted for the £1.3m ($1.7m) which "found its way to the UK" but not the $441,995 he allegedly spent while still in Bermuda, as he could not be prosecuted for alleged offences committed in Bermuda in a UK court. | |
Mr and Mrs Bevan deny 13 counts of converting criminal property and three counts of transferring criminal property. | Mr and Mrs Bevan deny 13 counts of converting criminal property and three counts of transferring criminal property. |
Friend Mr Ismail and financial advisor Mr Charity deny converting criminal property. | Friend Mr Ismail and financial advisor Mr Charity deny converting criminal property. |
Mr Charity, who is accused of deleting e-mails to conceal them from the police investigation, also denies perverting the course of justice. | Mr Charity, who is accused of deleting e-mails to conceal them from the police investigation, also denies perverting the course of justice. |
The trail continues. | The trail continues. |