FCA brings criminal fraud charges against Directors and Auditor of Dial-A-Cab Credit Union following its demise
The Financial Conduct Authority (FCA) has initiated criminal proceedings against four individuals in connection with alleged false accounting and fraud at Dial-A-Cab Credit Union.
Terry Dodd, John Riley, and Brian Flanagan, all former directors of the credit union, are accused of using their positions for personal financial gain. The FCA claims the trio transferred funds from the credit union for the benefit of themselves and their families over a six-year period between 1 September 2012 and 4 September 2018.
Auditor Terry MacPherson faces charges of conspiring with the directors. He is accused of falsifying returns submitted to the FCA and the Prudential Regulation Authority (PRA), obscuring the financial misconduct taking place within the organisation.
The defendants appeared at Westminster Magistrates’ Court on 20 November 2024, where they were granted conditional bail. The case has now been referred to Southwark Crown Court, with a hearing scheduled for 18 December 2024.
The allegations of the now defunct company, follow the taxi booking service being placed in administration on 4 September 2018. The organisation’s collapse has prompted further scrutiny of its financial governance during the years leading up to administration.
Legal proceedings are ongoing.
