Man gambled £500k of employer’s cash on gaming websites HE ‘SYSTEMATICALLY BETRAYED FIRM’ – JUDGE

A MAN “frittered away” more than half a million pounds of a company’s cash on gaming websites.

For an 18-month period between August 2017 and April last year Kenneth Ward, from Anglesey, submitted false invoices to Aspire Park and Leisure Ltd.

The Porthmadog-based business makes wooden lodges and holiday homes.

As financial controller he approved the invoices and the payments were made to his bank account, a judge at Caernarfon Crown Court heard.

Ward (pictured) made 178 fraudulent transactions totalling £574,950 in all.

The 39-year-old, Street, Holyhead, fraud and was jailed years.

Judge Timothy Petts told Ward: “You systematically defrauded and betrayed the company which employed you. Over half of what you stole was frittered away on online gaming.

“Your actions have radically affected the business and undermined the hopes the directors had for the company.

“Clearly only a lengthy prison sentence will do.”

Prosecuting barrister Ryan Rothwell said Ward admitted to his employers he had taken the money and getting a “thrill from doing so”.

He added he was in considerable debt and was addicted to online gaming. of Wian admitted for four

The court heard Ward had begun the fraud soon after starting work for the company, having previously worked with the directors at another company.

“The directors had set up the company with a significant investment and employed more than 50 people.

“A considerable level of trust and responsibility was placed in the defendant.

“Initially the fraud was quite sophisticated with invoices created in the name of suppliers and then approved but paid into the defendant’s bank account.

“Anyone looking at the accounts would believe the payments had been made to the suppliers,” he said.

But in April last year Ward was more blatant, transferring £46,000 to his account making no attempt to conceal it.

Bank officials raised the alarm alerting the directors to a possible fraud.

An investigation revealed the extent of what Ward had done.

In a victim personal statement a director, Esme Watson, said Ward’s actions had first sickened then concerned staff who feared for their jobs.

She said the fraud had incurred significant extra costs for the business and additional resources had been invested into sales and customer service to maintain customer confidence and profitability.

Elen Owen, defending, said

Ward had shown genuine remorse and had not sought to excuse or lessen his actions.

“He knew he was always going to be caught and he is surprised this did not occur sooner,” she said.

Ms Owen added there was no evidence of an extravagant lifestyle and all the money had been spent online.

Civil proceedings have been started to recover some of the money and all assets have been frozen.

The judge ordered a Proceeds of Crime Act hearing take place in August.