Nicholas Whittaker, a 37 year old finance manager at the famous East Yorkshire gadget shop, RED5 Retail Ltd admitted to stealing around £70,000 from the shop to satisfy his gambling addiction.
Nicholas was working at the shop that is based in Hessle when he defrauded his employees. He defrauded the company of the said amount for a period of over three years. At the Hull Crown Court where he is being tried, Nicholas pleaded guilty to 4 counts of fraud. Anil Murray, his attorney requested for his sentencing to be adjourned until next January.
Anil requested for an adjournment of the sentence to allow for a pre-sentence report for a much longer time than usual. According to Anil, the case required a recorder to be present and there was need for the case to be adjourned until when the judge would be available.
The prosecution has indicated that it will start criminal proceedings to regain the money. The prosecution will however have to prove that Whittaker stole the money because of his criminal conduct. If this is established, he may have to sell his home, cars and any other property in order to repay the money.
The company unearthed the fraud last December when the manager requested to see the company statements as he had not seen them for a long time. According to the firm, they discovered 200 fraudulent transactions that took place between April 2009 and last December. The fraudulent transactions totaled up to £41,653.
An internal audit of accounts began and other fraudulent activities that took place in a span of three and a half years was discovered. Six cheques amounting £41,653 were doctored between October 2009 and last December.
Whittaker had used the company’s paypal account fraudulent around 33 times with the amount being £5,189. He also stole £16,500 by not banking shop floats that he requested to be directed to him.RED5 Retail Ltd has over 20 stores and the company also suppliers games and gadget to top retailers Selfridges and Hamleys.