Bristol accountant jailed for stealing £300,000
A disqualified Bristol accountant stole £300,000 from clients, friends and even his son's long-term partner.
Michael Jonathan Wike carried on advising clients on tax rebates and investments through his own unlimited firm after being banned from being a director of a limited company and built a significant reputation, which he went on to abuse.
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Bristol accountant jailed for stealing £300,000
But Wike, 55, of Coombe Dingle came unstuck when he bought a pub and began to run up debts.
Bristol Crown Court heard yesterday how Wike earned his name as a tax adviser in the Hope and Anchor pub in Shirehampton, and also handled the tax rebates of an increasing number of builders involved in the Cabot Circus development.
His thefts and "chaotic" practices saw almost £55,000 of rebates vanish into his own accounts, the court was told.
James Patrick, prosecuting, said Wike also stole cash from his son's long-term partner, Lucy Allnutt, 25, to the tune of around £40,000, leaving the couple "shattered".
Wike advised a long-standing friend to invest tens of thousands of pounds in his own firm, Calloway and Co, knowing there would be little chance of a return.
David Campbell, defending, said Wike had not spent the money on "the high life" but decided to take over the running of the Hope and Anchor after its previous landlord, who he knew well, hit difficulties.
Without undertaking proper due diligence and discovering hidden debts, Wike found himself dipping into client accounts from his day job to fund mounting bills from the brewery he leased the pub from.
His continued attempts to trade his way out of trouble saw a steady increase in the level of funds that were misdirected.
Judge Michael Longman described Wike, who admitted 16 offences, as undertaking "a determined course of premeditated fraud and dishonesty" and sentenced him to a combined total of five years in prison.
"I have no doubt the number of your victims well exceeds the number of charges to which you have admitted," he said.
"You offered your services to hard working people of mostly modest means. Their losses were ones that they could ill afford."
He described Wike's treatment of Ms Allnutt as "particularly distasteful, especially given her relationship to you".
"The degree of your breach of trust was enormous and will be long lasting," he said.
Wike had taken responsibility for the estate of Ms Allnutt's mother after she died. It included houses in Bristol and Manchester and initially he appeared to be paying off the respective mortgages appropriately.
As his debts grew, payments were missed and eventually all was lost, leaving Ms Allnutt and Wike's son being chased by debtors they never knew existed.
Ms Allnutt, who was present in court and stands no chance of reclaiming her late mother's money, told the Evening Post: "I'm just glad it is over."
Wike went missing in early 2008 as his debts spiralled out of control but was tracked down by one of his victims.
Mr Patrick described how one couple had considered killing themselves after losing their pension and being forced back to work, such was the effect of his actions.
A police spokesman said it was unlikely any of the money could ever be recovered.







2 Comments
by chris, Staple Hill
Thursday, November 12 2009, 7:09PM
“Bernie, are you still about?”
by Unanimous, Bristol
Friday, November 06 2009, 5:25PM
“Anyone know what ever happened to his partner Bernie?”