A “spineless” director at leading accountancy firm, KPMG, was jailed for four years after trying to buy his second wife’s happiness with £550,000 stolen from his employer. Andrew Wetherall, 49, branded as “spineless” by the judge, spent years defrauding the expenses system at the financial and professional services firm to provide her with expensive gifts and holidays.
The fraud went undetected because he kept claims under £5,000, which did not need authorisation, Southwark Crown Court in London was told. The court heard that Wetherall, of St Albans, Herts, was concerned that his wife, Catherine, would suffer when her previous partner tried to reduce maintenance payments.
Despite claming a six-figure salary, he began inflating expenses by altering bills, creating false invoices, submitting multiple claims for legitimate expenses and claiming holidays with his wife as business trips.
It was a system that was described by the judge as a “systematic, determined and premeditated successful fraud”. As a result of the fraud, KPMG has been forced to overhaul its procedures.
The court was told the father of two then used the money – about £15,00 a month – to shower his second wife with expensive watches, top-of-the range cars and five-star holidays.
Last year, a colleague became suspicious about his air claims, after the court heard he claimed for £480,000 worth of travel, of which at least £243,000 was supported with fake documents.
The former trusted director first told his bosses that it was a simple mistake but it was estimated that he had over-claimed by £545,620 and he confessed at a subsequent disciplinary hearing.
He was later sacked. KPMG said no client’s money was involved.
Wetherall, who admitted false accounting and fraud at a previous hearing, had repaid all the cash he stole, the court heard.
His wife stayed away from the hearing to avoid press attention, the court was told.
In jailing him for four years Judge Gregory Stone, who at an earlier hearing reacted with apparent disbelief to the case’s facts, told him: “This is a very serious offence and I have no alternative but to sentence you to prison.
“The gravity of this case focuses on the breach of trust that was involved and the very large sums of money of which you defrauded your employers – well over half a million pounds.
“And you did that with your knowledge of how the systems worked.
He added: “It was a systematic and determined and premeditated successful fraud.”
“This was not a case of conventional greed, but it was a case of a man who threw away his principles and took a weak and self-indulgent approach to financial and person problems,” he said.
“It was, if you like, a spineless approach to these problems.” The judge said he already had a comfortable lifestyle but that appeared to not be enough for him.
The judge said that in Wetherall’s favour were his guilty pleas and the fact that he had repaid KPMG every penny he had stolen.
“It is a sad case. You have already paid a heavy price and you will continue to pay that price for a while yet. And that price is paid by you and those that are close to you.
“Clearly you have damaged a glittering career and you have also damaged the thing that you were trying to protect – your lifestyle.”
Outside court a spokesman for KPMG said he was sacked last year.
“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,” he said.
Weatherall’s second wife could not be reached for comment.