Disciplinary outcome: Raja Usman
Order by consent
In the matter of
Mr Raja Usman MAAT
Membership number
10063370
Date
27 January 2024
Misconduct
Raja Usman's conduct was found to be in breach of the Code of Professional Ethics and to have posed a risk to the public and/or undermine public confidence in the Association and its members as follows:
1. On or around 17 May 2023, he was adjudged bankrupt in the High Court of Justice.
2. On or around 20 July 2023, he was found to have committed three contempt’s of court for lying in a witness statement and lying before different High Court Judges.
3. For an unknown period up until on or around 29 April 2022, his firm, Universal Accountants, failed to comply with the obligations of the Money Laundering Regulations in force while providing accountancy and/or related services to the public. Specifically, he failed to:
(a) have in place adequate anti-money laundering (AML) policies, procedures, and controls, or carry out any or any adequate periodic review.
(b) carry out any or any adequate client due diligence in respect of one or more clients
(c) carry out an adequate risk assessment and ongoing monitoring in respect of one or more clients
(d) carry out any adequate firm-wide AML risk assessment
4. For an unknown period up until on or around 29 April 2022, he failed to issue adequate letters of engagement to one or more clients.
Finding
Grounds for disciplinary action existed and the matter was suitable for exercise of the Investigations Team's powers under the Disciplinary Regulations.
Order
Raja Usman is hereby:
1. Expelled from AAT membership
Consent
Raja Usman consented to the decision of the Investigations Team in accordance with Regulation 6 of the Disciplinary Regulations.
