UK tax advisor lost 1.8m to his Thai wife

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Galee
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UK tax advisor lost 1.8m to his Thai wife

Post by Galee » September 27, 2009, 8:58 am

One idiot going to jail and one very happy Thai lady. :D



Jailed: Taxman who stole £1.8 million from pensioner and then lost it to his Thai bride

Woking Magistrates Court: William Franklin was jailed for seven-and-a-half years for illegally transferring £1,837,000 from Kathleen Renson's bank accounts into his own

A tax advisor who stole more than £1.8million from an elderly woman - and then lost most of it at the hands of his Thai bride - has been jailed for seven-and-a-half years.

William Franklin, 61, was working as a tax advisor for Surrey solicitors Guillaumes and had power of attorney over the bank accounts of Kathleen Renson.

Over a five-year period - from March 2001 to January 2006 - Franklin illegally transferred £1,837,000 from Kathleen Renson's bank accounts into his own.

Franklin even continued to take money from Mrs Renson's account after her death, aged 80, at a nursing home in Lightwater in 2005.

He admitted 217 counts of theft by deception at Woking Magistrates' Court in July and was sentenced at Guildford Crown Court on Friday.

At the sentencing, prosecutor Graham Smith, said: 'Mr Franklin had power of attorney over Mrs Renson's estate with another partner at Guillaumes.

'The agreement between the defendant and the other controlling solicitor was that he [Franklin] would have control of the bank accounts and assets owned by Mrs Renson.

'The defendant had financial control of everything.' After Mrs Renson's death, Franklin made six transactions, all between January 18 and 24 2006.

The court heard Franklin, previously of Chilton Close, Eastbourne, transferred £9,950 from Mrs Renson's Nationwide account to his own on January 18 and then transferred a similar amount a minute later.

Later that day, he also transferred £8,400 from her bank account into his own.

Mrs Renson's bank account, holding savings of more than £3million, was based at the Walton-on-Thames branch in Surrey, where the court heard Franklin was a regular customer and known to the staff.

Following Mrs Renson's death and Franklin's continued unlawful bank transactions, he transferred £630,000 of the stolen cash to three bank accounts in Bangkok.

Defending Franklin, David Castle said: 'Initially it didn't occur to him to take money from Mrs Renson's bank accounts and he began his power of attorney duties diligently.

'He was often left alone to write cheques and, given the ease with which he could write cheques and move money around, he decided to feather his own nest.'

In 2006, Franklin fled to Thailand where he met a Thai woman half his age, married her and fathered their child, who is now three years old.

Owing to Thai laws about foreigners' investments, Franklin transferred the stolen money into an account in his 32-year-old Thai wife's name.

Mr Castle told the court: 'His Thai bride then embarked on a spending and gambling spree and spent the lot of the money in casinos in Bangkok.'

According to Mr Castle, Franklin did not believe his actions would affect Mrs Renson as she was living in a nursing home and was having her bills paid.

It was only after her death that he began to realise that, because of his actions, Mrs Renson's relatives would not be able to benefit from inheriting her savings.

Franklin, wearing a blue shirt and yellow tie, sat impassively as his sentence was handed down.

Judge Christopher Critchlow said: 'You committed thoroughly mean offences over a period of five years.

'This was a considerable breach of trust and it harms anyone who was associated with you in a professional capacity.

'Because of the gravity of these offences, a very substantial term of imprisonment must follow.'

After the hearing on Friday afternoon, Robert Guilfoyle, a senior partner at Guillaumes Solicitors, in Weybridge, Surrey, declined to comment.



Read more: http://www.dailymail.co.uk/news/article ... z0SGg2ynJW



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BobHelm
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Re: UK tax advisor lost 1.8m to his Thai wife

Post by BobHelm » September 27, 2009, 12:37 pm

Owing to Thai laws about foreigners' investments, Franklin transferred the stolen money into an account in his 32-year-old Thai wife's name.
A distinct distortion of the truth..... :D
The money could well still be floating around in a bank account somewhere in BKK. A nice nest egg for him - I doubt if he will serve anything like half the sentence imposed. :shock:

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Re: UK tax advisor lost 1.8m to his Thai wife

Post by Fawn » September 27, 2009, 2:25 pm

Crikey, there's some awful people walking this earth isn't there; stealing money from pensioners to finance a life in Thailand (or elsewhere!). They can't be bothered to do a decent day's work to make some honest bread, rather liberate it from others. Anyone seen those keys?
Doug! Doug! Doug!

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Re: UK tax advisor lost 1.8m to his Thai wife

Post by wazza » September 27, 2009, 6:50 pm

Sounds like he built a new WBU , and was Dean of the Finance Chair and Vice Chancellor

Yeah its in Thailand all right, some condo paid for already,

Probably bought it off some dodgy real estate mob in Samui or Pattaya called Grabbit and Runne, realators to the rich and stupid.

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Re: UK tax advisor lost 1.8m to his Thai wife

Post by trubrit » September 27, 2009, 7:52 pm

BobHelm wrote:[

A distinct distortion of the truth..... :D
The money could well still be floating around in a bank account somewhere in BKK. A nice nest egg for him - I doubt if he will serve anything like half the sentence imposed. :shock:
Sorry Bob, your assumption is well out of date.Under the UK law. The proceeds of crime. If proven to have criminally obtained money , a seizure order is granted by the court for the whole amount of the estimate to have been obtained illegally . A seizure order is put on all assetts. If this order is not met, no remission of the original jail sentence is given and a further term of detention is given, without parole. This depends on the sum of money involved.In this case 1.8 mill it is 7 more years .The UK and Thailand signed a joint agreement in 1988 that if the assetts were located in Thailand the Thai authories were entitled to 50% of the money recovered.Even after this additional time in jail was served, the consfication order would still be applied.So if the guy doesn't pay it back he is facing a total time in jail of 14years . The original sentence without parole , plus the additional penalty of not repaying the proceeds of crime order . Again without any parole time .The fact of his wife spending the money is not relevant to its repossession .
Ageing is a privilige denied to many .

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Re: UK tax advisor lost 1.8m to his Thai wife

Post by BobHelm » September 27, 2009, 10:24 pm

All very true TB....BUT only if the DPP request that this is in force. It is not automatic, it has to be specifically requested. I see nothing in the report of the trial that even suggests that the DPP have asked for it in this case - therefor it will not apply.
It IS possible that the beneficiaries under the ladies will could sue him for the money & thus open the whole can of worms again (& result in extra searches of bank accounts in Thailand) however this is not their best course of action. It is risky, expensive & may well result in zero assets being discovered. Their line of pursuit is with his employers - who undoubtedly will have insurance & will pay up.
As I said before, he will NOT serve 7.5 years, or anything like it...."White collar criminal", unable to re-offend...out in 4 maximum!!!!

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Re: UK tax advisor lost 1.8m to his Thai wife

Post by arjay » September 27, 2009, 11:42 pm

Owing to Thai laws about foreigners' investments, Franklin transferred the stolen money into an account in his 32-year-old Thai wife's name.
If he transferred the money into an account in his Thai wife's name, it's probably already long gone, - she's probably spent it, or opened a chain of beauty salons (all next door to each other ;) ) :D

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Re: UK tax advisor lost 1.8m to his Thai wife

Post by trubrit » September 28, 2009, 7:46 am

An amendment to my previous post on "Proceeds of crime" The law was altered in 2004. It now reads that any assetts held in Thailand or the UK will be seized and may be retained by the country in which those assetts were .This amendment was , I suspect because of a very high profile case in which a Thai citizen had a considerable sum in the UK :lol:
Bob . While a PoC is not automatic, it would normally be applied for in such a case .This could be at a much later date than the original trial as investigations have to be made as to the whereabouts of any remaining assetts. Even if no such order was made, unlikely I think , the parole board would take into acount whether retribution had been made before granting any early release on parole. Don't think thats likely in this case . Do you?
Arjay. agree with your gut feeling but would add. As they were married any possessions she has, other than the clothes she is wearing are likely to be forfeit. :cry:
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Re: UK tax advisor lost 1.8m to his Thai wife

Post by mak » September 28, 2009, 9:26 am

The eBay golf scam has its thai connections as well. One of the conspirators, Gary Bellchambers, has a lot of "assets" in Thailand.

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