An accountant who stole nearly £900,000 from his employer over a 10-year period was ordered to repay £150,000 (the maximum amount of assets available for seizure) and was sentenced to three years in prison.
The employee used his illicit gains to collect sporting memorabilia, including racing helmets signed by Ayrton Senna and Michael Schumacher, and to fund an extravagant lifestyle.
Thefts by trusted employees are surprisingly common and can be devastating for the businesses involved. In this case, the compensation paid was £¾ million less than the amount stolen. This is not unusual as in many such cases sums stolen are used to fund an expensive lifestyle.
Click here for advice on reducing the risk of employee fraud.
Click here for guidance on the warning signs of potential employee fraud.
Employee Ordered to Repay £150,000 in Fraud Case
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
