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PQ magazine for part qualified accountants.
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How the mighty fall |
| 05 February 2010 |
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Former ACCA president Dennis Yeates’ career is in tatters after he pleaded guilty of conning his stepson out of £20,000 in a bogus shares deal. |
The high-flying ex-president apparently lost his job in 2007 but pretended to be still in work. During the court case it was revealed that Yeates was also cheating on his wife of 15 years. She is now divorcing him and claims he has left her with massive debts. Yeates admitted stealing the money at Warwick Crown Court and was sentenced to eight months in prison, suspended for two years. He has to perform 180 hours of unpaid work and pay £500 costs. His defence claimed that he is now ruined as far as his chosen profession is concerned. The ACCA said: “Whilst we are very sad to learn of this story, any member who misappropriates funds is liable to disciplinary action by ACCA. The matter is being looked into by ACCA’s Professional Conduct team and ACCA will not be making any further comment until this matter has been concluded.”
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