[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 15 March, 2005, 16:38 GMT
Travel owner jailed after fraud
The owner of a holiday company has been jailed for 12 months after stealing money from a customer protection fund to keep the firm going.

Raymond Cash, 54, of Telford, admitted several charges of fraudulent trading at Shrewsbury Crown Court.

The court heard that Cash raided the fund in an effort to keep Avanti Holidays afloat, but it collapsed in 2003 owing 83,000.

The judge described it as a "wicked thing" to have done.

'Hopelessly insolvent'

Cash also admitted a charge of recklessly making a false statement.

Daughter Grace Cash, 23, who was the company secretary, admitted managing the fund account incorrectly and was sentenced to 200 hours community service.

Both Cash and his daughter were disqualified from holding any company directorship for six years.

Judge Mark Eades said they were both aware that the company was "hopelessly insolvent", yet they still took money from the fund.


SEE ALSO:


RELATED BBC LINKS:


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific