Log in

Chief financial controller jailed after stealing £86,000 from employer

Thursday 2nd April, 2020

A chartered accountant who stole from a family-owned group of companies has been jailed after pleading guilty to four charges of fraud at Warwick Crown Court.

He abused his position as chief financial controller at Kingsbury Jig and Tool Group Ltd to steal just over £86,000 over a nine-year period.

The fraud started in 2007 when he submitted expenses claims twice on 183 occasions over a period of four years, covering it up in the petty cash book.

Prosecutor Sophie Murray said the Kingsbury Jig and Tool Group was a "very cash-rich" group of companies which produces bespoke precision engineering machinery, reported in The Express and Star.

He was a trusted member of staff who worked for the firm for almost 20 years until he was dismissed in 2016 due to some irregularities. After he left it was discovered the sums of money had gone missing.

He covered his tracks by taking memory sticks containing the financial records with him, and other records making it difficult to work out the extent of his dishonesty.

The fraud escalated in 2010 when he started issuing cheques from subsidiary companies to cover him taking a total of £60,326 from the group’s petty cash funds.

He obtained a total of £86,063 which did not include £27,414 in cash which was found at his home, and since returned to the company.