Accountant Jailed For Fleecing Firm

A trusted accountant, who stole nearly £150,000 from a firm of chartered surveyors he "mercilessly exploited," was jailed of three years today.

Father-of-four Ian Lodwick, 55, of Station House, Askenham Road, Westcott, Aylesbury, Buckinghamshire will now be pursued for the money he stole over four years under the Proceeds of Crime Act.

He was employed by Isleworth firm 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.

"He has just spent two weeks accusing the partners of telling a pack of lies. There is no remorse or regret at all," said Isleworth Crown Court (pictured) Judge Robin Johnson.

"The kindest thing to say is that he is in a state of irrational denial.

"They treated him as a colleague and friend and when he was caught he threw it all back in their faces."

Lodwick told the jury the partners knew he took the money as a pay rise, but agreed with him to keep it secret from other members of staff.

He was in full control of the company's banks accounts, knew all the online passwords and kept the firm's chequebook in his desk.

"It is you who has placed your family in this terrible position," Judge Johnson told the first-time offender. "Over four years of dishonesty you took nearly one hundred and fifty thousand pounds as a minimum.

"The case against you was overwhelming and the two partners in the company had placed complete trust in you and you mercilessly exploited that trust.

"You did all you could to cover your offending. This was theft by a person in breach of a high degree of trust.

"You have brought catastrophe on your own family and prison is a disaster for them and you."

Michael Richards & Co also pursued a successful civil claim against Lodwick and a charge has been placed on the family home, which has equity of £100,000.

"The Crown will initiate confiscation proceedings under the Proceeds of Crime Act," prosecutor Mr. Tyrone Silcott told the court.

Lodwick's lawyer Mr. Andrew Morris said: "He knows he is facing custody, having lost his good character.

"Up until now his character has never been questioned. He will never be allowed to work again in the profession he has been employed in almost his entire working life.

"He had led a law-abiding life and the shock of the prison door closing behind him will be dramatic for him."

The defendant also has credit card debts of £25,000, run up to support his family while he was not working.

"He had been taking high doses of anti-depressants and sometimes was unable to move all day," added Mr. Morris. "The money cannot be paid back because he does not have it."

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," explained Mr. Silcott.

Lodwick was found guilty of 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 was also convicted of defrauding the company's partners out of fifteen cheques, totalling over £30,000 between April 1, 2006 and February 28, 2010.