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Cath Everett

Sift Media

Freelance journalist and former editor of HRZone

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Accountant jailed for stealing cash due to share disappointment

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A company accountant has been jailed for theft after admitting that he stole tens of thousands of pounds from his employer when the shares he bought from the company did not provide the returns expected.

According to the Norfolk Eastern Daily Press, Mark Hewitt, an accountant earning more than £65,000 per year, stole £80,000 in “dribs and drabs” after buying the shares on the understanding that they would do well on the Norwegian stock exchange, prosecutor Robert Warner claimed. 
 
Norwich Crown Court heard that Hewitt used the stolen money to pay £10,500 towards a wedding reception, although he later cancelled it but kept 56 bottles of wine.  He also cashed payments into his personal bank account and paid off credit cards. 
 
The accountant was rumbled after he left Great Yarmouth-based company SeaJacks and a new accountant discovered the discrepancies, the court heard.
 
Hewitt has since repaid the company £60,000, which he believes is the full amount that he stole over a two-year period. Jonathan Morgans, who is acting on behalf of Hewitt, said: “He is of the belief that he has paid all the money back.”
 
Recorder Chistopher Makey jailed Hewitt for 16 months and said it had been “a serious breach of trust”, although he accepted Hewitt’s claim that he had repaid the stolen cash in full and recognised his repayments. 
Author Profile Picture
Cath Everett

Freelance journalist and former editor of HRZone

Read more from Cath Everett
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