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TransTec's ex finance head faces jail

Nicholas Neveling, Accountancy Age, 06 Apr 2006

The former FD of a company set up by Labour MP Geoffrey Robinson faces jail for fraud

Bill Jeffrey, the former FD of TransTec, the specialist engineering group set up by Labour MP Geoffrey Robinson, is facing a seven-year jail term after pleading guilty to fraud.

Jeffrey, who was TransTec's FD when the company collapsed in 1999 under a £100m debt burden, will be sentenced at Birmingham Crown Court tomorrow, The Times reports.

Jeffrey pleaded guilty to seven counts of fraud after being accused of hiding a £11m black hole in the company's accounts. TransTec's former chief executive, Richard Carr, was also accused of fraud but pleaded not guilty and was acquitted last week.

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