Ernest Wayne Pulman - known as Wayne and an accountant who qualified in 1972 and is listed as an FCA member of the ICAEW - provided financial advice to MJL Group Ltd.

Pulman, along with Margaret Jean Murray-Shelley, was found guilty of the fraud which was masterminded by Murray-Shelley’s husband and fellow director Philip Murray-Shelley and involved another man called Andrew Wallace.

Philip Murray-Shelley was found to have planned and directed the manipulation of funds from a credit company to MJL over a long-term period.

MJL initially gained the trust of the credit company which provided credit agreements to businesses who used the services of MJL but could not afford to pay the full cost up-front. These businesses had to arrange for the credit company to pay MJL in full and would then pay the money back in instalments to the credit company with additional interest.

MJL claimed further money from the credit company through creating numerous false business contracts. The court heard that not only did the credit company suffer a loss up to £750,000 but the employees of MJL ended up losing their jobs as money was stolen from company accounts to provide those involved with a lavish lifestyle.

Detective Sergeant Jamie Holcombe from South Wales Police’s Economic Crime Unit (ECU) said: ‘During the investigation company director Jean Murray-Shelley was found to be living in a large manor house in Brecon, valued at £1.6m, driving a Porsche 911, sending her children to public school and keeping several horses.

‘At the same time MJL employees were being told they were being made redundant with no payment, Mrs Murray Shelley was on a skiing holiday paid for by funds taken out of the company. They continued to trade as a company whilst knowing their company was in serious financial difficulty, giving no notice to their employees of its foreseen closure.’

Philip Murray-Shelley was identified as the scheme’s developer, but the police said it required the constant attention and work from all four, including Pulman and his accounting skills. Transfers of money into accounts made it seem as though they were in regular receipt of lottery wins.

Wayne Pulman was jailed for three and half years for conspiracy to commit fraud by false representation; fraudulent trading and conspiracy to steal. Philip Murray-Shelley received five years for conspiracy to commit fraud by false representation. Margaret Jean Murray-Shelley received two and half years for fraudulent trading and conspiracy to steal.  Andrew Wallace received a 20-month custodial sentence suspended for two years with 300 hours of community service for conspiracy to commit fraud by false representation.