PracticeAccounting FirmsEx-Scarborough FD begins jail time

Ex-Scarborough FD begins jail time

Gerald Waterworth, the former finance director of Scarborough Building Society who pled guilty to theft and false accounting, has started an 18-month jail sentence

Link: Building Society FD suspended

At York Crown Court yesterday, a judge jailed Waterworth, 50, of Hall Park Grove, Scalby, Scarborough to 18 months jail time, concurrently for each offence

In November, Waterworth pled guilty to charges of false accounting after a £100,000 black hole was found in the society’s accounts.

Waterworth, of Hall Park Road, Scalby, Scarborough, had taken more than £100,000 from the building society to cover up thefts of a similar amount from his local Citizens Advice Bureau, of which he was the volunteer treasurer.

Accountancy Age later uncovered that he had also lied about his ACA qualification – the ICAEW had no record of him ever being a member, despite this being stated in the building society’s annual report.

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