A BANK worker who was crippled by his 2,000% APR internet loan stole £20,000 from his employers to make ends meet.
Kevin Peter Gillon embarked on a “crazy” scheme to embezzle the money from Standard Life, a court heard today.
But the 29-year-old’s theft was quickly spotted by the bank and Gillon was today (Tue) ordered to do 200 hours community service.
Gillon, from Sighthill, Edinburgh, pled guilty at the city’s sheriff court to embezzling £20,00 from the compnay.
Fiscal depute Bruce McCrossan said: “He worked in the employer intermediary services department.
“This involved the transfer of money between customers’ pension accounts and suspense accounts.”
Mr McCrossan said the company’s financial crimes investigator became aware of the transfer of £20,000 into an account belonging to the accused on 13 May 2011, which led to an investigation.
He said the accused made a full admission when the police became involved: “He was interviewed by police and he made a full and frank admission to the offence under interview.”
The money was taken from a holding account which belongs to Standard Life, and ended up in his personal account, the prosecution said.
He had worked for the company since 1999, and was based in Lothian Road, Edinburgh.
Mr McCrossan said Standard Life had also docked £2,500 from money due to him.
Gillon’s defence agent told the court he had been forced to sell his house for a loss after splitting up with his partner in 2006.
The court heard that Gillon, who earned around £1,000 a month, had taken out a loan from an internet lender of with an APR of 2000%.
His defence agent said: “I do accept it’s a serious breach of trust but almost three quarters of the sum has been repaid already.
“For want of a better explanation, temptation got the better of him. He knew he would be caught.”
Gillon left the company two days before the scam was uncovered by internal investigators.
Sheriff Alastair Noble said: “You appear before me as a first offender.”
“You were very obviously in severe financial difficulties.
“The offence seems to be a crazy one that was doomed to failure.”