Toys R Us Accountant Will Probably Not Have Much Success Asking Hookers to Return Stolen Money

Back in fall we mentioned a run-of-the-mill whore-supporting accountant that pleaded guilty to ripping off Toys R Us to the tune £3.7 million. Paul Hopes is described as a ‘Walter Mitty character’ by the Telegraph who can now fantasize about what Oz character he is, now that he’s spending 7 years in prison.

Hopes got more bad news recently as he learned that he has to repay £3.36 million of the £3.68 million from Geoffrey.

If he fails to repay the money, he see his sentence more than doubled with an extra 10 years in prison.

The court heard that Hopes, an “accounts payable manager” at the retailer, diverted regular instalments of £300,000 to an account of a fictitious toy manufacturer which he controlled.

He named the fund Dunbar Associates after a prostitute with whom he had become besotted and to whom he eventually handed a total of more than £1.5 million pounds.

He spent at least £2.4 million of the money he stole on five female escorts in all.

That’s a bitch about the additional 10 years if doesn’t repay. But we’re sure that he placed the remaining £900k into a safe, no-load mutual fund so he’ll be able to at start paying at least part of it back ASAP. The sensible accountant in him had to have made one decision with stolen money.

As for the rest of it, we don’t know how successful Johns are at getting refunds in circumstances such as these but if those girls were 100% satisfaction guaranteed, he’ll have to explore other options.

Toys R Us accountant ordered to pay back £3.4m after escort girl fraud [Telegraph]

Back in fall we mentioned a run-of-the-mill whore-supporting accountant that pleaded guilty to ripping off Toys R Us to the tune £3.7 million. Paul Hopes is described as a ‘Walter Mitty character’ by the Telegraph who can now fantasize about what Oz character he is, now that he’s spending 7 years in prison.

Hopes got more bad news recently as he learned that he has to repay £3.36 million of the £3.68 million from Geoffrey.

If he fails to repay the money, he see his sentence more than doubled with an extra 10 years in prison.

The court heard that Hopes, an “accounts payable manager” at the retailer, diverted regular instalments of £300,000 to an account of a fictitious toy manufacturer which he controlled.

He named the fund Dunbar Associates after a prostitute with whom he had become besotted and to whom he eventually handed a total of more than £1.5 million pounds.

He spent at least £2.4 million of the money he stole on five female escorts in all.

That’s a bitch about the additional 10 years if doesn’t repay. But we’re sure that he placed the remaining £900k into a safe, no-load mutual fund so he’ll be able to at start paying at least part of it back ASAP. The sensible accountant in him had to have made one decision with stolen money.

As for the rest of it, we don’t know how successful Johns are at getting refunds in circumstances such as these but if those girls were 100% satisfaction guaranteed, he’ll have to explore other options.

Toys R Us accountant ordered to pay back £3.4m after escort girl fraud [Telegraph]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Olympics Tracker: These Athletes Who Toiled At Accounting Firms Are Going For Gold In Tokyo (UPDATE)

[Updated post from July 26 with additional athletes, event results.] If time spent consecutively looking at spreadsheets, eating hours, and submitting timesheets late were Olympic events, accountants would be among the strongest contenders for a gold medal during the summer games in Tokyo. But there have actually been accounting Olympians—Gwen Jorgensen and Alexandre Bilodeau to […]

Friday Footnotes: EY’s Deep and Cozy Trouble; KPMG Avoids Audit Trial; GT’s New Digs | 7.23.21

EY Accused of Actively Concealing NMC Health Audit Fraud From Investors [Bloomberg] Ernst & Young faces accusations it “actively concealed” a six-year fraud from investors in a fresh lawsuit over its auditing work for the troubled NMC Health. The hospital operator’s founder, Bavaguthu Raghuram Shetty, said the accounting giant enjoyed a “deep and cozy” relationship […]