City watchdogs ban insurance boss for funnelling £200k to his wife

It is about as far removed from the hustle and bustle of the City as you can get.

But the remote fishing town of Buckie on the Moray Firth coast, around 55 miles east of Inverness in the Scottish Highlands, is the unlikely setting for the latest financial scandal.

The two main City watchdogs have decided to fine the former boss of a local insurance firm a total of £154,498 for funnelling around £200,000 in salary and bonuses to his wife to cut his tax bill.

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