Accountant Accused Of Stealing £166K To Bankroll Spendy Wife

An trusted accountant "systematically stole" £166,000 from his employers, claiming he needed the money to fund his post-natal depressed wife's feel-good spending spree, a jury has been told.

Ian Lodwick, 55, of Station House, Askenham Road, Westcott, Aylesbury, Buckinghamshire was in full control of the company's banks accounts, knew all the online passwords and kept the firm's chequebook in his desk.

He was employed by Isleworth chartered surveyors Michael Richards & Co. from 2000 until he left amicably in January 2010, but financial discrepancies were discovered by a new firm of accountants when they carried out an audit.

"The Crown say Mr. Lodwick was stealing from his employers, transferring money he was not entitled to to his account and misled the partners of the firm into writing him cheques he was not entitled to," prosecutor Mr. Tyrone Silcott told Isleworth Crown Court (pictured).

"It all went into Mr. Lodwick's or his wife's bank account."

Accountants Glazers completed an audit after the defendant's departure and after discovering a £43,000 shortfall invited Lodwick in to explain.

"He said in that meeting he had received unauthorised payments and that his wife was spending a lot of money and was suffering post-natal depression."

Lodwick denied taking any more, but a probe revealed £166,642 missing from the company's bank account.

"During his time as an accountant with the company Mr. Lodwick was the only person with access to the partnership's number two bank account," explained Mr. Silcott.

"He was the only person who knew the online passwords and money was transferred electronically to other accounts held by himself and his wife.

"It is no more complicated than somebody having their hand in the till."

The jury were told the defendant also tricked the company's two partners into signing cheques payable to himself.

"The allegation is he systematically stole from the company and concealed this by making false entries on the account ledgers and moved money between the ledgers to make it more difficult to trace."

Lodwick had pleaded not guilty to stealing £43,023; £11,975; £24,505; £11,748; £30,676 and £13,777 on various dates between April 1, 2006 and March 31, 2010.

He has also pleaded not guilty to defrauding the company's partners out of fifteen cheques, totalling over £30,000 between April 1, 2006 and February 28, 2010.

The trial is expected to last two weeks.