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Pair jailed over £145k gift aid fraud

Two unregulated financial advisers who fraudulently tried to claim almost £145,000 in gift aid have each been jailed for two years.

Raymond Agbo and Akua Owusu, who ran unregulated financial services firm Mondvi & Co, claimed fictitious UK taxpayers had donated to the Church of Grace Ministries UK. Owusu provided advice and services on gift aid and mortgages on behalf of regulated firm Clifton Finance Services.

The pair processed a gift aid repayment claim for £144,800 through Mondvi & Co on behalf of the church. The claim was supported by false documents which cited the names and addresses of donors who did not exist.

Handing down the sentence at the Old Bailey last week, Judge Marks QC told the pair they had shown “no iota of remorse” for what they had done.

HMRC criminal investigation assistant director David Margree says: “Agbo and Owusu had the financial knowledge to make a determined attempt to steal from honest people. They submitted the false claim knowing it was an abuse of a scheme designed to help charities in need.”

Thameside Wealth director Tom Kean says: “This is an example of the worst kind of fraud there is.”


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