David Bolan's fraud was described as "devious and planned"
A COMPANY director who stole almost £40,000 from the business he was running paid thousands of pounds of his ill-gotten gains straight into his mistress' bank account, a court has heard.
David Boland had been put in charge of a new firm handling PPI and other mis-selling claims because he knew one of the bosses and was considered hard-working and trustworthy.
But over a three-year period the 49-year-old conducted a sophisticated raid on the company finances, stealing a total of £39,968.24.
Swansea Crown Court heard that his fraudulent behaviour had caused severe problems for the firm and its owner, as well as costing the jobs of employees who were laid-off because the company appeared not to be making much money.
Boland, of St Teilo Street, Pontarddulais, had previously pleaded guilty to fraud by abuse of position when he appeared in the dock today for sentencing.
Craig Jones, prosecuting, said Boland had been made the director of a claims management company in Swansea called RedHawk Legal, and had day-to-day control of the firm.
But over the course of almost three years he carried out 69 separate fraudulent transactions, diverting money that should have gone into company accounts — most of the cash went into his own bank account but some £703 went into his wife's account, and £3,923.90 into the account of a woman he was having an affair with.
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Andrew Evans, in mitigation, said the offending had been caused by the defendant's own financial problems, and that the fraud — and the subsequent revelation about his affair — had had a significant impact on the defendant and his family.
His Honour Judge Peter Heywood described Bolan's actions as "devious and planned", saying people in positions of financial responsibility had to act with honesty and integrity, and that he would be failing in his public duty if he did anything other than send him straight to prison.
He jailed Boland for 16 months.
The court heard that Boland now has no money or assets and is unable to pay back the cash he had stolen - a nominal £1 confiscation order was made against him.
His Honour added that he wanted the prison to which Boland was being sent to house him in its hospital wing, where a proper check could be kept on his mental and physical health.
Read more: http://www.southwales-eveningpost.co.uk/Fraudster-stole-40-000-company-funds-gave-4-000/story-28029651-detail/story.html#ixzz3pHxElG4P
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