https://www.mortgagesolutions.co.uk/news/2019/01/03/ex-finance-director-jailed-after-paying-off-two-mortgages-with-1m-company-theft/ Ex-finance director jailed after paying off two mortgages with £1m company theft - Mortgage Solutions
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Ex-finance director jailed after paying off two mortgages with £1m company theft

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  • 03/01/2019
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Ex-finance director jailed after paying off two mortgages with £1m company theft
A former financial director has been jailed after stealing more than £1m from his employer and using the proceeds to buy a house and pay off the mortgage for his in-laws.

 

He also blew half the cash on an up-to £50,000 per day gambling addiction.

Steve Girling from Costessey in Norfolk was sentenced to four years in jail after admitting the theft from Premier Education Group from 2014 to 2017.

Around £500,000 was spent on gambling but Norwich Crown Court heard the remaining half of the money is largely unaccounted for.

According to reports, Girling used some of this to buy a larger house, pay off that mortgage and potentially pay off another mortgage on his wife’s parents’ property.

Girling had also cited his gambling addiction as a key reason for the theft, with bookmakers rewarding his spending with a range of free tickets and travel to sporting events and VIP passes.

 

Skilled, professionally planned

But Judge Stephen Holt was sceptical about this as it was noted the operation survived three audits.

In issuing the sentence, Judge Holt said: “These thefts were skilled, professionally planned and executed.”

The Eastern Daily Press reported that at first Girling had refused to tell Premier Education Group how he had stolen the money.

This cost the firm £30,000 in consultants fees to find out where the cash had been hidden, but he has since repaid more than £110,000, with more promised.

 

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