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Adamson Forensic Accounting Ltd

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Making Lots of Money

In June 2009 BBC News and various Scottish papers reported that a businessman, his two sons, and an employee pled guilty to involvement in producing and distributing fake money. Counterfeit £20 notes totalling over £185,000 had been recovered. The businessman sourced specialised paper and inks and was able to produce some 15 to 25 counterfeit notes per hour. This unofficial attempt to help the government’s policy of quantitative easing ended on 5 February 2008, and the businessman received a custodial sentence. The Statement of Information calculated his benefit from crime over a six year period at just over £850,000, and his available amount was stated to be over £600,000.

The respondent’s wife had an accountancy background, and tried to assist him to understand and challenge the Crown’s calculation of alleged benefit. His financial affairs had been fairly chaotic, and personal funds were used for business expenditure and vice versa. He did not always file his company accounts and personal tax returns on time. During the confiscation proceedings he was negotiating a settlement with HMRC to cover tax on his under-declared income. He attributed much of the Crown calculation of alleged benefit to his disorganised financial affairs rather than actual crime.