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Accountant faces jail for BIBA raid

Accountant faces jail for BIBA raid

Accountant faces jail for BIBA raid A former accountant for the British Insurance Brokers Association (BIBA) is facing a possible jail sentence after admitting his guilt to six counts of fraud.

According to a report by The Evening Standard, Gurmukh Singh Shehri, 32, raided the association’s accounts while he worked as its finance manager and stole more than £24,000 by writing cheques either to himself or to a fictitious company.

The report states that Shehri gave himself £11,000 in unapproved bonuses and wrote a further £13,198 to a company he called URM.

Now he is facing potential jail time after admitting to the fraudulent acts and is due to be sentenced next month.

Speaking at the hearing, Judge Peter Rook commented:  “You know these are serious matters – there’s a substantial amount of money involved and you were in breach of a position of trust. You may be facing a custodial sentence.”

The frauds date back to November 2013 when Shehri credited £3,600 to URM before repeating the act in January last year with £4,788. He followed that with £4,860 six months later. In addition he paid himself three bonuses in what was described by the prosecutor as “an abuse of power over a sustained period.”

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