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Financial Controller jailed for stealing £350k to fund a lavish lifestyle

Wednesday 28th June, 2017

A former Division Financial Controller has been sentenced at the Inner London Crown Court to three years after pleading guilty to fraud by abuse of position for stealing £351,943 from her employer.

Action Fraud was contacted after it was discovered that between 30th July 2013 and 12th February 2016, she had made 43 fraudulent transactions to fund a luxury lifestyle beyond her means.

The fraud came to light when a Vice President of the company noticed an Invoice Approval Form for £6,256. The invoice from a service provider seemingly had the Vice President’s signature on it. He had not signed the invoice.

As a result, the company sought the bank details from the service provider the payment had purportedly been made and found it was not the provider’s bank account. The payment was found to have been made to a bank account in her name.

Subsequent analysis by the company found that a total of £289,869 had been paid into this account between 11th February 2014 and 12th February 2016 while a further £62,074 had been paid into a second bank account also registered to her.

The City of London Police’s Fraud Squad investigation found that over a period of three years, she used the stolen money to fund home improvements, cars and personalised number plates, holidays, hotels, restaurants and spa visits, as well as luxury goods and paying off an existing loan.

Detective Sergeant Lee Nelson of the City of London Police’s Fraud Squad said: “Mistry put her entire career and future on the line to enjoy a lavish lifestyle far beyond what she could have afforded legitimately. Her sentence is the result of the hard work by a dedicated Fraud Squad investigator and demonstrates fraudsters will not be allowed to get away with stealing from their employers. They will be caught.”

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