An accountant who defrauded his employer of nearly £900,000 over a decade was ordered to repay £150,000 (the maximum amount of assets available for seizure) and was sent to prison for three years.
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.
There are risks in taking an overzealous approach to supervising employees, however, as such action could trigger a claim for constructive dismissal. If you have suspicions about an employee, take advice before taking action. For advice on this and any employment matter, contact Edward Wheen or Susan Kelly.