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Four accused of £1.3m Bermuda government fraud Four accused of £1.3m Bermuda government fraud
(about 3 hours later)
A Welsh accountant and his ex-headmistress wife fiddled £1.3m from the Bermuda government to buy luxury cars and properties, a court has heard. 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, are accused of laundering proceeds of £1.7m ($2.4m) stolen cash to spend on a lavish lifestyle. 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 denied all charges at Cardiff Crown Court. 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 became a teacher in a Bermuda school. 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.
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 - after having bought luxury Mercedes cars and a series of property investments around Britain. 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.
"Mr Bevan was dishonestly involved in the fraudulent transfer of nearly $2.5m of money belonging to the Bermudan people, which had been covered up by being in the names of other organisations," said prosecutor Tim Evans. 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 Bevan had gone by then," Mr Evans added. "He went because he knew that he was about to be rumbled for a massive fraud." 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."
It showed payments had been made into the couple's HSBC account in Bermuda. 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 Bevan claimed the payments were for overtime while working for the Bermuda government.
He said he was on £295 ($400) per hour working 35-hours a week but then worked 50 hours on top of that each week.
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 against Mr Bevan "about how ridiculous his claim is". Mr Evans said members of the Bermudan government would give evidence "about how ridiculous his claim is".
Cash transferred from the government account was allegedly used to buy cars and properties in Newport, Swansea, Glasgow and Nottingham. 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 married couple are also accused of using money to pay off their £140,000 mortgage. 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 Evans said Mrs Bevan must have realised something was going on by seeing the money pour into their joint account.
"She is an intelligent woman," Mr Evans told the court.
"Her husband had amassed large amounts of money and she must have at the very least suspected that it was the proceeds of dishonest criminal conduct."
Mr Evans told the jury 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.
"Given that the original crimes alleged against him were on Bermuda soil he cannot be prosecuted for those back in the UK," Mr Evans said.
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.