More Misery for Contractor Accountant

Darren Upton, the former accountant to a number of freelancers and who was recently convicted of fraud, has now been expelled from the Chartered Institute of Taxation (CIOT).

At a hearing in May of this year the Institute’s Disciplinary Tribunal found that Mr Upton, a student member of the CIOT was in breach of five of the Institute rules, namely:

1. In 2009 he dishonestly stated on his student registration form that he had never been the subject of disciplinary action by another professional body whereas he had been removed from the student register of the Association of Chartered Certified Accountants (ACCA) 10 years earlier for dishonesty;
2. He failed to inform the CIOT that disciplinary action had been taken against him by the ACCA which resulted in his expulsion in September 2011;
3. He failed to inform the CIOT that a bankruptcy order was made against him in September 2011;
4. He failed to inform the CIOT that he had been the subject of criminal charges for fraud for which he received a six year custodial sentence in 2011; and
5. That he conducted his practice to such an extent as to be likely to bring discredit to himself, the CIOT, its membership and to the tax profession.

Upton had been convicted of fraud by abuse of position and dishonestly making false representations. He diverted client cheques intended for HMRC into his company account Upton & Co. The bent accountant also raised considerable sums of money from investors who were told that they were investing in currency trading, when in actual fact he was not authorised by the Financial Services Authority to conduct such investments.

For charges (1) and (5) Upton was expelled from the CIOT. For charges (2), (3) and (4) he was censured. He was also ordered to pay costs of £2,461.