fb

ACCA AUTUMN SAVINGS 20% OFF

This Financial Controller will be sat in prison rather than in a £140m apartment…

This Financial Controller will be sat in prison rather than in a £140m apartment…

What’s the link between a Financial Controller, a £140 million apartment in London and prison?

Ross Smith, the former Financial Controller of property developer Candy and Candy will have plenty of time to contemplate the link as he is currently in prison serving a sentence for stealing nearly £100,000 from his employers.

As the Financial Controller of the Property Developer Candy and Candy, Mr Smith was able to access funds that clients had deposited with the company to pay for improvements on a number of luxury properties in the UK.

One of these properties for example was at the prestigious “One Hyde Park” Development in London.

Now, One Hyde Park isn’t your average property development.

It contains over 80 properties and the “cheapest” one starts at £20 million.

The UK’s most expensive property – a 6 bedroom apartment – was sold there for the staggering sum of £140 million!

Even though Candy and Candy had some of the best properties in the world on their books it’s fair to say that their internal controls weren’t up to the same standard.

Mr Smith simply created false invoices to redirect funds into his personal bank account. He actually got away with the fraud for a number of years until it was spotted as part of a routine check.

Going back to One Hyde Park though and if anyone is interested there is currently an apartment for sale there.

Full details are on the Estate Agents website and the good news is that it’s a lot cheaper than the £140 million that the penthouse went for.

This one is on the market for a mere £65,000,000.

Now, before you all go and rush out and buy this property it’s worth remembering that the average property price in the UK at the moment is just under £250,000. So, instead of buying the one apartment why don’t you spend your £65 million on 260 “average” properties instead…

Share this entry

Recent articles

View All Articles
Two jobs, one big mistake…
Sep 10, 2025
Title
Two jobs, one big mistake…
Excerpt

Can you really hold down two full-time jobs at the same time? For most of us, it sounds […]

Cash is (no longer) King…
Sep 08, 2025
Title
Cash is (no longer) King…
Excerpt

For generations, a wallet or purse has been an everyday essential — a small, leather-bound companion holding coins, […]

Nestlé CEO fired over office relationship…
Sep 04, 2025
Title
Nestlé CEO fired over office relationship…
Excerpt

Nestlé is the world’s largest food and beverage company, with a portfolio that includes some of the most […]

When ethical claims backfire: Armani’s €3.5m fine
Aug 20, 2025
Title
When ethical claims backfire: Armani’s €3.5m fine
Excerpt

Luxury brands are often seen as the gold standard of quality, exclusivity, and prestige. They charge premium prices […]

The benefits of sleeping on the job…
Jul 21, 2025
Title
The benefits of sleeping on the job…
Excerpt

My guess is that not a lot of you have gone up to your boss and said that […]

A car wash, wallet and apartment – laundering explained…
Jul 18, 2025
Title
A car wash, wallet and apartment – laundering explained…
Excerpt

Money laundering might sound like something from a gangster movie, but it’s a serious real-world issue that affects […]

Take a selfie and then return it…
Jul 16, 2025
Title
Take a selfie and then return it…
Excerpt

The latest must-have outfit trending on TikTok might be out of fashion by the time it arrives on […]

When auditors overstay their welcome…
Jul 11, 2025
Title
When auditors overstay their welcome…
Excerpt

A cornerstone of audit is independence. A recent stumble by EY – one of the Big Four accounting […]