Accountant jailed for defrauding client to feed gambling addiction

Sudhanshu Ranjan October 1, 2024

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Accountant jailed for defrauding client to feed gambling addiction

Accountant Waqar Akram was sentenced to four years in prison after defrauding a client out of more than $137,160. Akram, who had a gambling addiction, altered cheques meant for the tax office, instead funnelling the money into his personal accounts to cover his mounting betting losses.

Uncovering the fraud

Waqar Akram, from Central Park, Halifax, worked as an accountant at the firm Buckle Barton in Leeds. His career took a dark turn when he began manipulating a client’s cheques to feed his gambling addiction. Akram’s crimes spanned from 2019 to 2021 and only came to light when the victim, a long-time client of Buckle Barton, reached out to the company after noticing inconsistencies.

Akram took over the victim’s account and offered to handle his taxes personally. Over a span of two years, the victim handed over 10 cheques, totalling approximately $137,221, all made out to HM Revenue and Customs (HMRC). However, Akram altered these cheques to be payable to HM Rose Ltd, a company for which he was the sole shareholder.

Akram then transferred the money into his personal accounts, using it to fund his growing gambling habit. The victim, trusting Akram, initially believed his taxes were being paid, but became suspicious when he didn’t receive any tax documents.

When the victim contacted Buckle Barton, he was informed that he had not been a customer of the firm since 2018, and they had no records of Akram handling his account. The victim then reached out to HSBC, where copies of the altered cheques revealed the fraud. The discovery led to a full investigation, which uncovered the depth of Akram’s deception.

Akram started betting on football matches and gradually escalated his habit to online betting sites and gambling machines. What started as small bets of $12.70-$25.40 soon ballooned to $63.50-$127.00. Akram admitted that he continued to gamble in a desperate attempt to win back the money he had lost, but the addiction proved to be a vicious cycle that he couldn’t escape.

Court’s verdict

Following the discovery of his fraudulent activities, Akram was arrested on 10 November 2022. He initially denied any wrongdoing, claiming the payments were legitimate. However, as the trial date approached, Akram changed his plea and admitted to 10 counts of fraud by false representation.

At Leeds Crown Court, Akram was sentenced to four years in prison. Judge Recorrer Ashley Serr described Akram’s actions as a serious abuse of trust and noted that the crime involved an element of sophistication, given Akram’s manipulation of financial documents.

Akram’s lawyer, Jeremy Barton, provided a defence that shed light on the psychological burden of gambling addiction. According to Barton, Akram was trapped in a vicious circle, believing that he could eventually win back the money he had lost and make things right. Akram’s addiction spiralled out of control, leading him down a path of deceit and financial ruin.

The case of Waqar Akram serves as a stark reminder of the dangers of unchecked gambling and the devastating impact it can have on personal and professional lives.

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