Skipton resident Jason Lowe diverted over £500,000 from his employer, where he had served since 2016
A web developer from North Yorkshire illicitly appropriated substantial funds from a window manufacturing entity to sustain a gambling addiction. Jason Lowe, who held a position in online marketing, successfully siphoned more than £500,000 within an eleven-month timeframe.
In a cunning ploy, he transformed company credit card transactions into cryptocurrency, employing the virtual currency for gambling transactions across various platforms.
The firm, structured as an employee-owned trust—where staff possessed shares and reaped profit benefits—endured not only considerable financial setbacks but also a significant erosion of trust amongst its workforce.
The malfeasance was unearthed when the finance department of the Lancashire-based firm identified an inordinate number of transactions directed toward two entities, ‘Meteorbrand’ and ‘PPC Guru’, initiating an internal probe. Subsequent investigations linked the businesses to Lowe, who had been part of the organization since 2016.
Beyond the embezzled funds, the company faced nearly £80,000 in ancillary expenses during the fraud investigation, striving to unveil the complete scope of the deceit.
Notably, the transfer of large sums into Lowe’s personal bank accounts raised alarms, especially with sizable deposits arriving via PayPal. Upon inquiry, Lowe asserted the funds were derived from the sale of his business, even though that transaction had transpired in 2021.
A company representative articulated in their impact statement how Lowe’s misconduct had severely undermined internal trust, fostering significant distress among employees due to the gravity of the situation and his “lies and false accusations.”
The statement further underscored that the misappropriated funds could have otherwise been allocated towards new machinery and growth initiatives.
Instead, Lowe’s betrayal engendered a legacy of financial destruction and emotional turmoil. An investigation by the North Yorkshire Police’s Economic Crime Unit commenced following an Action Fraud report submitted in February 2024.
Lowe, aged 39, residing on Brougham Street, Skipton, was admitted to committing fraud by abuse of a position of trust, a crime executed between March 2023 and February 2024.
On November 28, he was sentenced to 33 months in prison at Bradford Crown Court. A Proceeds of Crime Act hearing is slated to follow, aimed at recouping the embezzled assets.
Post-sentencing, Detective Constable Neil Brodhurst of North Yorkshire Police’s Economic Crime Unit remarked: We are gratified with the custodial sentencing meted out to Lowe, who shamelessly exploited his position to facilitate a gambling addiction.
Although the misappropriated funds were converted to cryptocurrency, we meticulously traced the transactions to substantiate his illicit gains.
Fraud is never a victimless crime, and this case underscores the broader implications of Lowe’s actions—diminishing morale, trust, and financial stability across the workforce.
We hope the sentence serves as a stark warning to anyone contemplating such transgressions: betrayals of trust will be uncovered, and the consequences will be severe.
If you believe you have been a victim of fraud or possess information about a potential fraudster, please reach out to the police and Action Fraud. For further details, visit our Advice about fraud page.
Resources for Addiction Support
If you or someone you know is grappling with addiction, consider contacting local substance misuse services for assistance.
- ACT Middlesbrough substance misuse services: 01642 726800
- Thrive (We Are With You) Redcar: 01642 265532
- Change Grow Live Stockton: 01642 673888
- STRIDE We Are With You Darlington: 01325 809 810
- START – Substance Misuse Service Hartlepool: (01429) 285000
- North Yorkshire Horizons (Great Ayton), Northallerton: 01723 330730
Source link: Gazettelive.co.uk.
