Wealthy investment fund partner and his wife face jail for funding ‘lavish’ lifestyle of designer gear, cosmetic surgery and a Spanish apartment with £200,000 meant for the care of his disabled son
- Simon and Rebecca Toloui have been convicted of fraud by abuse of position
- Suffolk County Council paid out £16,600 a month in care for Mr Toloui’s son
A wealthy investment fund partner and his wife who funded a ‘lavish’ lifestyle with £200,000 provided for the care of their disabled son have been warned they face jail.
Simon Toloui, 68, and wife Rebecca, 61, subsidised their lives with the public money, using it to help buy a Spanish apartment which they visited several times a year and an expensive car.
Mrs Toloui, who lives with her husband in a £500,000 detached house in an isolated beauty spot overlooking the River Orwell in Chelmondiston, near Ipswich, Suffolk, is also said to have splashed out on designer goods including handbags and £13,000 on private surgery to have a gastric band fitted.
Mr Toloui’s adult son Andre, from a previous relationship, has a severe form of autism, leaving him with acute learning difficulties, non-verbal, and needing round-the-clock care by two people.
The couple, who received up to £16,600 per month towards his care from Suffolk County Council, denied a charge of fraud by abuse of position but were convicted unanimously by a jury yesterday.
Simon Toloui, 68, and wife Rebecca, 61, subsidised their lives with the public money, using it to help buy a Spanish apartment which they visited several times a year and an expensive car
The couple denied a charge of fraud by abuse of position but were convicted unanimously by a jury yesterday
They showed no emotion as Recorder Paul Garlick told them: ‘I’m adjourning this care for pre-sentence reports but all options are open.
‘This can’t be taken as a positive indication that I may not impose a custodial sentence.’
Mr Toloui told the Mail afterwards he ‘absolutely’ rejected the allegations and was considering appealing against the conviction.
He is a partner at Fayence Capital, an independent alternative investment fund that manages assets for institutional investors around the world.
His online biography states he has worked in the sector for over 30 years, establishing a ‘fund of funds’ for Societe General in Paris, leading asset disposal programs for Gaznaftgastroye in Moscow, and using his experience in oil and gas to raise $600 million to develop a field in the Chicago Basin.
His wife – Andre’s stepmother – who drives a Mercedes sports car, describes herself as an ‘experienced global HR director’.
Records at Companies House show she has held directorships at three limited companies, although she resigned from all the positions in February 2021.
The trial, which began in October but had to be restarted in November because of a problem with a juror, heard the couple were receiving £3,112 per month in 2014 for the care of Andre, who is in his 30s. By 2017, this has increased to £16,605.
Prosecutor Arthur Kendrick KC, opening the first trial, said the Tolouis had set up a lower level of care for Andre than he needed and kept the difference for themselves.
When they arranged for him to move into his own accommodation, they spent the ‘bare minimum’ on furnishings but claimed they had spent £10,000, he added.
The couple received up to £16,600 per month from Suffolk County Council towards the care of Mr Toloui’s adult son
Mr Kendrick said it wasn’t disputed by the couple, who married in 2005, that money from Suffolk Independent Living, a direct payment support service operated by Suffolk County Council, was paid to them at their request.
Instead, he explained, the issue to consider was whether they had dishonestly abused their position between June 2015 and March 2019 by spending £208,000 intended for Andre.
‘They say it was spent directly or indirectly for his benefit and they didn’t misuse it,’ Mr Kendrick told Ipswich Crown Court, which was sitting in a room at Colchester Magistrates Court in Essex.
Andre remains in a housing association bungalow in Hadleigh and his father and stepmother are still involved in his care, the court heard.
The Tolouis – who no longer receive direct payments for Andre’s care – will be sentenced in February. The maximum jail term for the offence is ten years.
The Tolouis were meant to pay for round-the-clock, two-to-one care but only employed one person for a few hours a day, the court heard.
The money they pocketed was also used to make mortgage payments and cover bills.
They travelled to their holiday home in the city of Muircia in south-east Spain several times a year, with the fraudulently obtained funds covering flights and currency exchanges at Stansted Airport.
The couple purchased a Motability car for Andre but carers said they had no access to it and had to use their own cars, which was unsuitable because Andre has a large build and could become aggressive or violent.
The defendants also drove a top of the range VW Toureg at a cost of £735 per month in finance. The vehicle had a private number plate.
Designer goods purchased with the money included two Louis Vuitton bags that came to light after a witness described how Mr Tolouis told them his wife had just been to London and spent £8,000-9,000 on them.
They also threw a Christmas party at Jimmy’s Farm in Wherstead, near Ipswich – run by TV presenter Jimmy Doherty, a close friend of Jamie Oliver – where carers were presented with Versace scarves.
Financial records show the couple also visited the Washington Hotel in Mayfair, although it is not clear if they stayed there or just ate in its restaurant.
Suffolk County Council, which brought the prosecution, will seek to recoup some of the money at a later date through a Proceeds of Crime hearing.
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