Manchester University were duped into paying £421,000 to scammers, who hijacked the identity of a technical supplies company and diverted payments from the institution to a bank account under their control.
Businessman Kevin White, 47, (pictured) of Park Heights, Constitution Hill, Woking, Surrey received the money into his account and £81,000 was withdrawn before the swindle was halted.
He pleaded guilty at Croydon Crown Court today to dishonestly obtaining credits of £279,826; £81,950; £59,529 and £482 between March 9, 2012 and February 23, last year.
The court heard the university received a bogus email purportedly from FEI UK Ltd, who supplied scanning electron microscopes, notifying details of a new Barclays bank account number for invoices to be paid to.
“There is no evidence Mr. White is the architect of the fraud,” explained prosecutor Mr. Julius Capon. “He says he was approached by someone to use his bank account and he had no idea of the sums involved or that a university was involved.”
Bailing White until February 20 for sentencing Judge Nicholas Ainley told him: “It is overwhelmingly probable that you will receive a substantial sentence.”
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