Dragon’s Den stars Peter Jones and Theo Paphitis were ripped-off by a crooked accountant at the company they own in a £33,000 forged cheques fraud.
They run Red Letter Days - a company specialising in experience days vouchers as gifts and corporate rewards - where employee Akilan Selvathiravam, 34, worked as their finance officer.
The married dad-of-one, of Church Drive, Kingsbury pleaded guilty to fraud by abuse of position between January 1, 2016 and February 20, this year.
The Den duo bought the company out of administration after it had been founded by former-Dragon Rachel Elnaugh and ran into financial difficulties.
Qualified chartered accountant Selvathiravam was employed at the company’s head office at 100 High Street, Southgate, north London.
Prosecutor Miss Linda Shamel told Wood Green Crown Court: “He was entrusted with the safekeeping of cheques and money in the safe.
“He falsified the cheques and forged the signatures, claiming they were corporate refunds and then cashing them individually at the bank.”
Selvathiravam was exposed by a company internal audit in February. “There were a large number of cheques falsified and put through the system,” added the prosecutor.
“CCTV evidence shows the defendant cashing cheques in branches of Barclays Bank.”
He defrauded a total of £32,955.99 and relatives have rallied around to repay the sum.
Selvathiravam was reported to the police by the company and arrested and quizzed. “He admitted he falsified the cheques because he had a gambling addiction.”
The court heard Red Letters Days have not reported him to The Institute of Chartered Accountants (ICAS) and he attended a job interview with a bank shortly before the court hearing.
“His former employers support his continued employment in the financial sector and a glowing reference has been provided,” said Mr. Brad Lawlor, defending.
“Family members have grouped together to pay the full amount. He was desperate, he’s been struggling with a gambling addiction and been to rehab.”
Judge Joanna Greenberg QC announced: “This was a breach of trust over a considerable period of time.
“Not only does it cross the custody threshold, but custody remains the most likely outcome.”
Bailing Selvathiravam until August 23 for a probation report the judge added: “The defendant must not go away under any illusion that even if he’s going to pay the compensation he will walk free.
“This undoubtedly was serious offence and normally you would go to prison today, but I’m prepared to look at all options.” she told the first-time offender.
Red Letter Days have been fully compensated by Barclays.
No comments:
Post a Comment