PracticeAccounting FirmsScarborough FD guilty of £100,000 theft

Scarborough FD guilty of £100,000 theft

The former finance director of Scarborough Building Society has pleaded guilty to theft and false accounting after a £100,000 black hole was found in the society's accounts.

Link: Building Society FD suspended

Gerald Waterworth admitted the charges after it emerged that over a five year period he had taken the money from the society to cover up money he had taken from his local Citizens Advice Bureau, of which he was voluntary treasurer.

Waterworth, of Hall Park Road, Scalby, Scarborough, is due to appear before York Crown Court next month for sentencing – he admitted 24 specimen charges and asked for a further 105 similar offences to be considered.

The disgraced FD had been suspended from the building society in February 2002 after the discovery of the black hole in its accounts.

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