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Infatuated Accountant jailed for 4 years in £1.1m fraud

Friday 19th May 2017

A City accountant who defrauded a company he worked for out of £1.1 million has been jailed.

He was sentenced to four years’ imprisonment, having previously pleaded guilty to fraud by abuse of position following an investigation into his fraudulent activity by detectives from the City of London Police’s Fraud Squad.

He advised the company where he worked that he had stolen around £1.1 million over a nine-year period. He confessed to the fraud as the company was about to change its auditing process and he realised he could no longer hide his activity.

When detectives interviewed him, he explained how he systematically stole money from company accounts, which he then said he had gifted to a female work colleague he claimed to be in a relationship with. He told officers how he transferred money out of company accounts, falsified ledgers and forged other colleagues’ signatures to withdraw cash. As his infatuation grew, so did the amounts stolen. He started off with a few hundred pounds a month, but they gradually rose to more than £8,000.

His colleague was also arrested by police on suspicion of conspiracy to defraud, but after further enquiries was eventually released without charge.

A detective from City of London Police said;

“...he worked for this company for over 20 years and was a trusted employee. He abused this trust and ended up stealing over £1 million. Because of his position, he managed to hide his activity for many years."

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