Kemi Egan - £677,000 unknown tax liabilities due to fraudulent pension scheme uncovered

What’s the worst thing that could happen during an acquisition?   Up there at the top must be finding fraud from the seller.   Kemi Egan is my guest in this episode, and she found just this during one of her acquisitions. A seller was using a fraudulent pension scheme discovered by HMRC. Even then during the legal process the seller, and their defence have denied any wrongdoing despite evidence to the contrary.   Kemi shares the stress this caused her and what has been happening since. She also shares her wealth of experience, having completed 30 acquisitions in the last 5 years with 10 exits. As well as what she learned from this experience.   “Every step it was just so irrational” – Kemi Egan   Timestamps   01:39 - An introduction to Kemi 03:26 - How Kemi got into M&A 11:04 - Kemi on discovering fraudulent activities 19:51 - Was the business owner aware of fraud? 21:19 - What Kemi learnt from the experience 23:52 - Is there anything that could have been done differently? 25:16 - Julie on how to track changes 28:29 - Kemi's current acquisitions                                          Connect with Kemi Egan:   LinkedIn - https://www.linkedin.com/in/kemiegan/ Linktree - https://linktr.ee/kemiegan     Connect With Julie Wilkinson   LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/ Tik Tok – https://www.tiktok.com/@wasolutions YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A Facebook - https://www.facebook.com/wilkinsonaccountingsolutions Website - https://wilkinsonaccountingsolutions.co.uk/   Before you go, don’t forget to leave a comment and review if you got something out of this episode!