Anti-fraud banker jailed for stealing £170,000 to feed drink and cocaine habits
A banker who worked as a head of fraud operations has been jailed after stealing more than £170,000 from customer's accounts to help fund his alcohol and cocaine adddictions.
Richard Crawford, 41, turned to crime after his marriage broke down in 2008 and he began drinking heavily and developed an expensive drug habit.
He used customers' details to set up loans in their names, before transferring the money to other bank accounts belonging to co-defendants.
Crawford, who earned £65,000 a year, took £173,372 in just seven months while working in the Leeds office of First Direct, a division of HSBC.
Jailing him for three years and eight months at Leeds Crown Court last week, the Recorder of Leeds, Judge Peter Collier, said: "You had complete access to the whole security system and the necessary involvement to be able to make the money transfers. You knew that your Internet Protocol address would not be revealed to the bank in that process.
"It was an outrageous abuse of trust by you. The losses were all borne by the bank."
Howard Crowson, prosecuting, told the court that £109,497 was lost by First Direct as they failed to recover all of the money.
The money was paid into acccounts opened by up to 10 "recruits" who, in return for small payments, agreed to withdraw the cash and return it to Crawford, of Leeds, as soon as possible.
Crawford, who had worked at the bank for nearly 20 years and in the fraud department for 13 years, pleaded guilty to conspiracy to conceal, disguise, convert or transfer criminal property.
He also admitted fraud and possession of articles in the use of fraud.
Simon Reevell, defending, said the effects on Crawford had been "catastrophic", adding that he was "at heart, a decent man".
Crawford was sacked last summer and police may seek to seize his ill-gotten gains at a confiscation hearing next year.
He was sentenced along with eight other people who allowed him to transfer amounts into bank accounts they opened. Some of the goup were charged with money laundering while others were charged with money laundering and conspiracy to conceal, disguise, convert or transfer criminal property.
Their sentences ranged from two years in prison to 32 week sentence suspended for 18 months.
A First Direct spokeswoman said: "We take the security of our customers' money very seriously and we have been working very closely with the police to bring about this successful prosecution."
© Copyright of Telegraph Media Group Limited 2010
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