Accountant repays in full for dishonesty

File photo / NZ Herald

A self-employed Christchurch accountant has sold his family home to pay to a friend and client he cheated out of $30,654.

The settlement was made before Brian James Prescott's Christchurch District Court sentencing at Rangiora today.

The 56-year-old had pleaded guilty to six charges of dishonestly using documents and one of causing a loss by deception.

He did not file tax returns for his friend's business for more than eight years, using the cheques he was given to pay his own mortgage and debts.

The friend read his victim impact report in court today and said he and his wife had known Prescott for 22 years, and when the tax department got in touch with them Prescott assured them he would sort it out.

He said Prescott continually lied to them and the tremendous stress had affected his relationship with his wife and children.

He had to pay another accounting firm to sort the issue out and he was financially and emotionally drained.

It was the ultimate betrayal by someone they trusted, he said.

Defence counsel Bryan Green said Prescott had handed reparation cheques made out to the complainants and the bank to the court today.

Judge Noel Walsh said Prescott's behaviour was a breach of trust and authority in a professional relationship, and was premeditated although he had expressed remorse telling probation he was deeply ashamed.

Judge Walsh said Prescott's dishonesty would be on his hands and conscience forever, although some of his other clients were still allowing him continue to be their accountant.

He sentenced Prescott to five months' community detention, with a curfew from 7pm to 7am, and 260 hours' community work.

- NZPA