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Accountant accused of £150k fraud to face a retrial

By CMJohannaCarr  |  Posted: December 12, 2013

Accountant accused of £150k fraud to face a retrial

THE trial of a Perranpoth accountant accused of defrauding his clients out of £150,000 has been adjourned for a retrial.

David Pennington, of Bollingey, near Perranporth, went on trial at Truro Crown Court on Monday accused of 15 counts of fraud between April 2007 and December 2009 when he was employed by Terry Beard, owner of Park Retail South West Ltd, which runs shops on holiday parks in Devon, Cornwall and Somerset.

The 69-year-old faces further charges in relation to client Derek Coyle.

Joss Ticehurst, for the Crown Prosecution Service, previously told the court that Pennington was accused of making direct transfers from the Park Retail bank account into his own and making out cheques from the company's accounts to himself.

In 2007, Mr Coyle worked on a land deal, which meant he recieved £500,000 paid into an account Pennington looked after. A further £700,000 was paid for that deal in 2010.

Mr Ticehurst said Pennington transferred money from Mr Coyle's account into his own and transferred money from Park Retail's accounts to cover up the missing money.

Pennington, who denies all the charges, is accused of fraud to a total of £156,117.28.

On Thursday, the jury in the trial was discharged and the case was adjourned for a date to be set for a new trial.

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