Log in

Accountant jailed for £400,000 fraud at builders merchants

Thursday 31st January, 2019

A former deputy head management accountant has been jailed for stealing more than £400,000 from her employer to support a gambling habit.

She was employed at the Southampton branch of Elliotts builders merchants for five years and began defrauding the firm six months after joining.

During 2016 the firm’s management noticed irregularities and launched an internal investigation that found she had made 43 money transfers and cashed 72 cheques. She used nine different bank accounts in her two surnames to make transactions.

The investigation also found she spent all of the money on gambling and put her winnings back into her betting in order to help fund the £1.2 million she spent over the seven year period.

In BBC article, PC Stephen Webber of Hampshire Constabulary said: "The fact that she has nothing to show for it at the end of the day tells its own story."

In a statement, Elliotts said it was "deeply saddened" by the fraud, which totalled £406,049.38.

She hid her impending court case and employment history and from new bosses at a Southampton based yachting company who lent her cash she said she needed to pay off her debts.

She pleaded guilty to two counts of fraud and was jailed for five years.