Compulsive gambler sentenced for stealing £500k from employer

A 40-year-old web developer has been sentenced to nearly three years in prison after admitting to defrauding his employer of more than 500,000 to support his gambling addiction.

Jason Lowe, who worked for a window manufacturing company in Lancashire handling online marketing, exploited his position to divert company funds. He converted credit card payments into cryptocurrency, which he then used on gambling websites.

Bradford Crown Court sentenced Lowe to 33 months in prison. A follow-up hearing is scheduled to discuss the recovery of the stolen funds.

The company, structured as an employee-owned trust, allowed staff to hold shares and benefit from profits. Lowe had been employed there since 2016. The fraud came to light when the finance department noticed unusually large payments to two firms, "Meteorbrand" and "PPC Guru." Investigations linked these companies to Lowe. Additionally, the company spent nearly 80,000 investigating the fraud.

In a statement, a company representative said Lowes actions severely damaged trust among employees and caused significant stress. The unusual volume of money passing through Lowes personal accounts, especially via PayPal, raised suspicions with his bank. When questioned, he falsely claimed the funds were from a business sale completed in 2021.

Lowe eventually pleaded guilty to fraud by abuse of a position of trust, covering the period from March 2023 to February 2024.

Det. Con. Neil Brodhurst commented, "We are satisfied with the custodial sentence. Lowe exploited his position to feed a gambling habit. While the stolen money was converted into cryptocurrency, the transactions were traceable, proving his benefit. Fraud is never without victims, and this case demonstrates the wider impact of Lowes actionsdamaging morale, trust, and financial security in the workplace."

Author: Sophia Brooks