Court: Money Allegedly Used For Cars & Homes
A man who previously worked in Bermuda allegedly used money stolen from the Bermuda Government to buy luxury cars and properties back home in the UK, according to a report in the South Wales Argus.
Four People On Trial In Wales In Connection With $2.5 Million
Four people were charged last year in Wales, and at that time, the Bermuda Police said that Jeffrey Bevan, Samantha Bevan, Joel Ismail and Paul Charity appeared before Cardiff Crown Court “charged in connection with various money laundering offences.”
“The charges stem from a number of financial transactions conducted by Mr. Bevan whilst employed in the office of the Accountant General in Bermuda,” the police said.
“The theft was discovered after Bevan and his wife left Bermuda, with the funds having been transferred by electronic means through a local financial institution.
“The Bermuda Police Service was notified, and a joint investigation with the UK Regional Organised Crime Unit in Wales, was commenced.
“All four defendants entered not guilty pleas to the charges which come following the four year joint international police investigation.
“The four defendants are accused of laundering the proceeds of $2.5 million allegedly stolen from the Government of Bermuda between May 2011 and June 2013.”
Cash Allegedly Used For Cars & Homes
The story said “A Gwent accountant and wife fiddled £1.3m from the Bermuda Government to buy luxury cars and properties back home in the UK, Cardiff Crown Court heard today.
“Jeffrey Bevan, 50, and his former headmistress wife Samantha, 52, of Cwmbran, are accused of money laundering proceeds of $2.4m [dollars] stolen cash from Bermuda to spend on their own wealthy lifestyle.
“A court heard qualified accountant Bevan began illegally taking taxpayers’ money after moving to the island for an £80,000-a-year job as payments manager in office of the Accountant General of Bermuda.”
The court heard the Bevans moved to Bermuda in January 2011, and Bevan quit in May 2013 to return to Britain “blaming his mother’s poor health and the children’s schooling as the reasons for his resignation.”
“But an investigation in Bermuda uncovered a series of bogus payments including $89,000 [dollars] to Chevron International and another for $71,000 [dollars] to the Sylvia Richardson Care facility,” the report noted.
Proseuctor Tim Evans said: “Mr Bevan was dishonestly involved in the fraudulent transfer of nearly two and half million dollars of money belonging to the Bermudian people, which had been covered up by being in the names of other organisations.”
Cardiff Crown Court heard the investigation showed 52 bogus payments made to Bevan’s account in Bermuda before being transferred to Britain, according to the South Wales Argus report.
“Bevan claimed the payments to him were for overtime while working for the Bermuda government – saying he did up to 50 hours extra on top of his 35-hour week. The court heard he claimed he was on $400 per hour working 50 hours a week on top of his basic week.
Mr Evans said: “His defence will be that every cent of the $2.4 million was effectively overtime, over and above his basic and overtime hours, presumably tax free, and paid voluntarily and legitimately by the Bermudan Government.”
Mr Evans said members of the Bermudian Government would give evidence against Bevan “about how ridiculous his claim is.”
The report said the cash was allegedly used to buy Mercedes Benz cars and properties in Newport, Swansea, Glasgow and Nottingham.
The trial, which began this week and is expected to last eight weeks, continues.
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