Employee Ordered to Repay £150,000 in Fraud Case
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.
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