Three men, including Princess Yachts former facilities manager Glyn Thompson, are now behind bars after swindling the luxury boat company out of £1M.
Glyn Thompson, 57, Darren Tallon, 43 and Roger Truen, 49 were all given prison sentences by Judge Paul Darlow.
The men defrauded Princess Yachts between 2010-2013 by conspiring with contractors. They set up false invoices, as well as grossly overcharging the firm.
The fraud was only uncovered when a sub-contractor raised the alarm with senior managers of the company.
Judge Darlow jailed Thompson, the mastermind behind the plot, for six years. Tallon will serve four years and six months in jail, while Truen was sentenced to 40 months.
Both Thompson and Truen worked for Princess Yachts, while Tallon acted as a contractor.
Two other men, Michael Honey, 51, and John Tinley, 48, were also sentenced to 14 months suspended for two years for their part in the plot. Both of them acted as contractors.
Thompson, of Thornbury Park Avenue, Peverell, and Tallon, of Elfordleigh Farm, Plympton, has always had denied conspiracy to defraud Princess Yachts. But they were convicted after a three-month trial.
Truen, of Mitchell Close, Plymstock, Honey, of Pemros Road, Plymouth, and Tinley, of Langstone Road, Plymouth, all pleaded guilty to two counts of conspiracy to defraud.
All five men will now face further court hearings under the Proceeds of Crime Act to try and reclaim the stolen money.
23 November, 2015
Senior boss Glyn Thompson, 57, is accused of defrauding Princess Yachts of more than £1m over three years with the help of his deputy Roger Truen.
The facilities manager, is currently on trial accused of plotting with contractors of inflating invoices to the luxury boat maker and even raising fake ones.
The jury heard how the pair received envelops containing cash by contractors in order to secure work with the yachting company.
One of the contractors who has pleaded guilty, former director of Elite Facilities Solutions Michael Honey, has stated in court that his company paid £36,100 to Thompson and Truen over a period of several months and that Truen told him to inflate quotes for services at Princess Yachts.
Glyn Thompson and Roger Truen were paid a ‘referral fee’ in cash.
He eventually pulled out of the scheme as money was coming out directly from his and other directors involved in the scheme’s dividends.
Elite Facilities Solutions were appointed to oversee two contracts for Princess Yachts, one involving the demolition of buildings and the fencing off of the site at South Yard, Devonport Dockyard in Devon.
Michael Honey said that generally Roger Truen picked up the envelops full of cash, but that in one instance Glyn Thompson collected the money himself.
It’s also been revealed that Thompson was a director of Mulberry Developments along with co-defendant Darren Tallon, whilst Truen was in charge of Quins Project Management. Mr Honey said that EFS paid invoices to these two firms, however he admitted he never saw Mulberry Developments or Quins Project Management’s workmen on site.
Thompson has denied the charges and has pleaded not guilty to the charge of defrauding Princess Yachts using EFS.
The trial continues.