Accountant accused of extorting $75k from client under VAT audit
A 49-year-old accountant is accused of extorting $75,000 from a client under audit by the Department of Inland Revenue.
Prosecutors say construction company owner Paul Baker hired Sean Bain’s accounting firm to oversee the department’s audit of his VAT payments.
Bain, the president of Bain and Associates and Omni Corporate Group, allegedly told Baker he needed to pay the money in “negotiating fees” to the government.
Baker allegedly paid Bain, of Twynam Heights the money by cheque on September 28.
Bain denied that he extorted Baker and obtained the money through fraud by false pretenses at his arraignment before Chief Magistrate Joyann Ferguson-Pratt today.
Bain’s lawyer Ian Cargill has made an emergency bail application to the Supreme Court to prevent his remand to prison.