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4 Years For A Million Pounds?

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Woman conned company out of £1.4million in 7 years...the sun

CROOKED book-keeper Sharon Hibbert stole £1.3million from her bosses in seven years — and went on a Lottery-style spending spree that included three houses, a fleet of cars and a string of luxury holidays.

Neighbours were convinced the mum of two had hit the jackpot as she flaunted her wealth with expensive jewellery and designer clothes.

But yesterday she was jailed for four years after milking her employer of nearly £200,000 a year — while earning a salary of just £15,000.

Hibbert, 50, secretly diverted more than £1million into her husband Peter’s bank account. He was jailed for three years for money laundering.

The pair owned a £112,000 riverside apartment, a £160,000 four-bed detached house and a £280,000 bungalow with a two-acre paddock, stables, a £30,000 HORSE and garages for five cars.

Their vehicles included a £29,000 Audi TT, a £22,000 Land Rover, a £26,000 Mitsubishi Shogun, an Audi Quattro and two vintage Austin cars.

They also had two boats — including a £20,000 motor cruiser — and three vintage motorbikes. The high-living couple jetted around the world on expensive holidays — including £4,000 trips to Florida.

They also landscaped their garden with a £5,000 koi carp pond and installed a £15,000 conservatory and £18,000 marble-topped designer kitchen.

Hibbert’s thefts were finally rumbled when bosses at food suppliers BHJ UK Food Ltd in Hull called in accountants to check the books she kept.

Prosecutor Stephen Welch told Hull Crown Court that Hibbert paid £1.2million into her husband’s bank account and the rest into the accounts of a haulage firm which he ran.

Her employers eventually clawed back £268,000 by selling cars and seizing her country house in Old Ellerby, near Beverley, East Yorkshire.

But the rest of the money had just been frittered away. Mr Welch added: “It was simply spent on leisure pursuits.”

Hibbert admitted 11 counts of theft and her husband, 52, pleaded guilty to one charge of money laundering

So the couple has 3 houses, numerous cars, a horse, several motor boats, a caravan, high end motor bikes and they can only recover ~£250k out of 1.2 million??

What about the reclaiming all the other properties, horses and cars and motorboats? She surely couldnt have amassed these through earning £15k a year!!

How much of this is going on with stories of people frauding benefits, Bank of Scotland, tax evasion, paid to let immigrants inot teh country..no wonder there is so much money sloshing around!!

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On a similar note (raising funds) I note the natwest 3 are claiming poverty after having spent 600k on legal fees. Apparently 2 of these multi-millionaires now face the prospect of selling or remortgaging the family home ... on the other hand they could just be hoping some simple soul will take pity and stump up the money to fight the case ... who knows ..

Edited by Sledgehead

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So if you do steal large amounts of money, spend it quick, or at least say you did, then get your accommodation paid at an open prison for 3 years, then return to your business and then suddenly find all the money again.

btp

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On a similar note (raising funds) I note the natwest 3 are claiming poverty after having spent 600k on legal fees. Apparently 2 of these multi-millionaires now face the prospect of selling or remortgaging the family home ... on the other hand they could just be hoping some simple soul will take pity and stump up the money to fight the case ... who knows ..

It would be a lot fairer if their wealth was confiscated after they are found guilty. The current situation seems to be that they will have to spend much of it on defense costs, without any chance of being compensated if found innocent. They also will not be able to work for the next two years or so. I don't see quite how that is consistent with "innocent until proved otherwise".

Having said that, it seems they bought an asset only to resell it at a much higher price. They appear unable to explain why the price increased abrubtly in the meantime. I don't think it could happen to a much nicer bunch of chaps ;)

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It would be a lot fairer if their wealth was confiscated after they are found guilty. The current situation seems to be that they will have to spend much of it on defense costs, without any chance of being compensated if found innocent. They also will not be able to work for the next two years or so. I don't see quite how that is consistent with "innocent until proved otherwise".

Having said that, it seems they bought an asset only to resell it at a much higher price. They appear unable to explain why the price increased abrubtly in the meantime. I don't think it could happen to a much nicer bunch of chaps ;)

I wouldn't wish to prejudge the 3, even if the US courts have seemingly already done so. I was merely indicating surprise, if true, at the (apparently) pathetic level of their liquid assets.

I note that this may not be atypical of our new "millionaire" economy:

Diamond demand 'shrinking' as De Beers warns of challenges, Telegraph, Filed: 28/07/2006

"De Beers, the world's biggest diamond company, reported lower-than-forecast first-half revenue and said higher borrowing costs are putting pressure on demand.

.... The difficulties are "principally a result of interest rate" increases.... Rising global borrowing costs coupled with increased diamond prices are sapping appetite for luxury items, ..."The luxury wallet is shrinking," Martin Rapaport, chairman of the Rapaport Group, which runs diamond news, research and trading companies, told Bloomberg.

... indicating that the luxury wallet has been boosted by debt. Just to balance things:

[De Beers] Net profit, including a gain from the sale of a stake in its South African business, climbed to $520m from $339m.

.. but I guess thery are whinging about the present situation rather than that portrayed by (out of date) reports & accounts figs ...

Edited by Sledgehead

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  • 336 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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