KPMG director admits £500,000 fraud
KPMG's Andrew Wetherall pleads guilty to false accounting and fraud over £500,000 expenses claims
A KPMG director fraudulently claimed more than half a million pounds in
expenses to fund his wife’s extravagant lifestyle, a court heard yesterday.
Andrew Wetherall, who admitted making the false expense claims at Southwark
Crown Court, had previously told police he had stolen the money because ‘he did
not want her lifestyle to suffer’, fearing she would divorce him.
Wetherall, 49 years old, pleaded guilty to false accounting and fraud and is
expected to face a prison sentence, according to reports.
His fraudulent claims were kept below £5,000, which meant the claims did not
require further authorisation.
KPMG said in a statement that it had changed its internal procedures to
prevent such a fraud being committed again.
‘Mr Wetherall’s frauds were detected via our own internal checks and he was
dismissed in 2008. A thorough internal investigation was carried out and the
case was then handed over to the police. Since this case, KPMG has made changes
to its internal expenses procedures to prevent fraud of the type committed by Mr
Wetherall being perpetrated today. No client funds were involved,’ said the
firm.
Wetherall’s last role at the firm was as a coordinator between the member
firms globally.
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