'Parasite' stole £1.2M to fund lavish lifestyle with luxury cars and holidays

A fraudster who stole £1.2million to fund a lavish lifestyle involving foreign holidays and expensive cars has been jailed.

Michael Black pocketed the money from three businesses while working as head of finance between 2010 and 2019.

The 56-year-old has now been jailed for 10 years and nine months following a hearing at Bristol Crown Court on Friday 22 April. He was also given a 12-year company director disqualification.

The court heard Black abused his position to transfer money to his account on more than 400 occasions. He disguised the transfers so they did not appear to go directly to him.

In addition, while working at a bathroom company in Somerset between 2010 and 2016, he also used credit cards and wrote more than 200 company cheques for personal expenditure. He also paid himself illegitimate expenses totalling £36,000.

The money he obtained was used to purchase and extend an expensive family home, pay large mortgage payments, and buy foreign family holidays and expensive cars.

Black also used company credit cards over four years to make more than 1,000 Amazon purchases, including electronic items, speakers, books, plus DIY and gardening equipment.

His actions came to light while he was away on holiday in 2016 and issues arose with payments to suppliers. Close inspection of the accounts identified fraudulent payments.

After leaving the company, he went on to work for a dentistry business where he stole more money, which was partly used to repay some of what he stole from his previous employer. He then defrauded a music promotion business while working for them between 2017 and 2019.

Black, of Paulton Road in Hallatrow, pleaded guilty to three counts of fraud on February 7. Three further counts were ordered to lie on file.

Judge Michael Longman described Black’s actions as despicable and acknowledged the impact the offending has had on people working at the businesses Black defrauded.

Black 'a parasite' who was 'feeding off people's trusting nature'

Steven Hawkins, managing director of UK Bathroom Village Ltd which Black took a seven-figure from, said the impact on him and his business had been "immeasurable".

Mr Hawkins said the financial damage left staff worrying about losing their jobs while managers worried about the company's survival.

“Due to Michael’s fraudulent activities, we were unable to use profits to give staff pay rises and we lost many good people purely down to financial reasons," he said.

"We are rebuilding relationships with suppliers that Michael destroyed, due to his fractious behaviour, and we continue to work tirelessly to rebuild our reputation within the industry.

“To add insult to injury, at one point Michael even claimed we owed him money, a statement that was untrue of course, but highlights the audacity of this calculated, deceitful man.”

Mr Hawkins said Black’s fraud led to the company being put into administration in 2019 but it has since been able to relaunch.

He added: “To this day, we are still recovering from Michael’s actions. I cannot bear to think about the missed opportunities and where the business would be today if we had that money to invest over the years. Unfortunately, we have been working with a parasite, who had been feeding off our trusting nature.

“He enjoyed a luxurious lifestyle, creating a manor house, driving a fancy car, going on expensive holidays and hosting lavish parties. He led people to believe he was well connected and an astute businessman who could be relied on – when really, he was nothing more than a thief.”

Designated fraud investigator Niki White said: “Michael Black spent years trying to cover his tracks to hide the fraud he was committing.

“He sought to use company money to fund a lifestyle he wanted but could not afford. His motivation was pure greed.

“It’s often said that crime does not pay and Black has learned that lesson with this sentencing.”