Monday 26th June, 2017
A former vice president of an asset management company who stole more than £800,000 from his employer has been jailed for five-and-a-half years.
He was employed by First International Group as Vice President of Finance from 2010 to 2014.
The offences are believed to have started only a year after he joined in 2011 and continued until he was investigated in 2014, the fraud resulted in a loss to the company of £818,702.
An internal audit revealed he had made unauthorised payments into his own personal bank account by creating fake invoices or by making direct transfers unsupported by invoices.
He had responsibility for posting the company's accounts online and entered false details to hide the payments.
The investigation revealed that he used a former employee's banking fob to ensure he was able to bypass the company's internal finance controls, which required two counter signatories.