Four charged with fraud over failed UK credit union
( November 21, 2024, 10:39 GMT | Official Statement) -- MLex Summary: The UK financial watchdog has charged four directors with conspiracy to commit false account and three of them with fraud over a failed credit union. The Financial Conduct Authority said that Terry Dodd, John Riley, Brian Flanagan and Terry MacPherson had transferred funds out of the Dial-A-Cab Credit Union for their own benefit. MacPherson used his position as an auditor to submit false returns to the FCA and Prudential Regulation Authority, which masked the true position of the credit union and the fraud taking place, the regulator said. The case has been sent to Southwark Crown Court with the next hearing due on Dec. 18.Statement below....
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