The FCA has started criminal proceedings against 4 individuals for conspiracy to commit false accounting, with 3 of them facing further charges for fraud.
Terry Dodd, John Riley and Brian Flanagan have been charged for fraudulently abusing their positions as directors of the Dial-A-Cab Credit Union for their own personal gain.
The FCA alleges that the 4 individuals transferred funds out of the credit union for the benefit of themselves and their families.
Terry MacPherson has been charged for conspiring with the individuals, using his position as an auditor to submit false returns to the FCA and PRA, which masked the true position of the credit union and the fraud taking place.
The alleged offending took place over a 6-year period between 1 September 2012 and 4 September 2018.
The defendants were granted conditional bail at Westminster Magistrates Court on 20 November 2024, and the case has been sent to Southwark Crown Court, with the next hearing on 18 December 2024.
Source: FCA
