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Financial Controller jailed for funding lavish lifestyle with employer’s cash

Friday 20th October, 2017

A former Financial Controller has been sentenced to three years after pleading guilty to fraud by abuse of position after stealing more than £351,000 from her employer.

Her employer contacted Action Fraud after it was discovered that between 2013 and 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, even though he'd never seen it.

As a result, the company sought the bank details from the service provider and found it was not the provider’s bank account. Instead the payment was found to have been paid into their FC's personal account.

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

The City of London Police’s Fraud Squad began its investigation and 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.