Ex-adviser found guilty of film scheme fraud

11th December 2015


A former financial adviser has been found guilty of evading tax by encouraging investment into a film scheme.


Former director of Greystone Financial Services, Neil Williams-Denton, has been found guilty of conspiring to cheat HM Revenue & Customs.


He was found guilty at Southwark Crown Court and will be sentenced next Friday.


Williams-Denton was convicted on a separate count of conspiracy to cheat the public purse in September but the verdict of the earlier case could not be reported so as not to prejudice the later trial.


Fellow defendant Terence Potter, a film producer and former accountant at Ernst & Young, pleaded guilty to the charge of conspiring to cheat HMRC and was also found guilty in the earlier trial.


Three other defendants, former Royal Bank of Scotland bankers Vincent Walsh, Jason Edinburgh and Assad Amin were acquitted.


However, in the September trial, three investment bankers from Jefferies – James Hyde, Hamish Maclellan and Phillip Jenkins – were convicted on charges of conspiracy to cheat HMRC.


Williams-Denton’s part in the fraud was to recommend the film schemes, run by Potter’s company Aquarius Films, to RBS and Jefferies bankers. The schemes provided tax rebates to investors in film production but those who invested had to prove their were actively involved in the production by working 10 hours a week for the company.


According to HMRC, the men colluded to present false documents that showed investors had worked the 10 hours required.



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