A financial controller who misappropriated £90,326 from his employer has been given a 14-year Bankruptcy Restrictions Undertaking, following an investigation by the Insolvency Service.
William Lee Fenton, 40, misappropriated the money from his employer over the course of twelve months in 2012 and 2013.
Mr Fenton changed the details on supplier invoices so that payments made against those invoices would go into his personal bank account and not into supplier’s accounts, as intended.
He used the monies to fund a lifestyle beyond his actual means.
On 22 October 2013, a Bankruptcy Order was made against Mr Fenton, on the petition of his employer.
At the date of his bankruptcy order, Fenton owed money to his employer, banks and other financial institutions. His total debts were £159,247. No repayments were made to his employer.
Mr Fenton is currently being investigated by the police to determine whether criminal proceedings against him should be instigated.
Commenting on the case, Official Receiver for Exeter, Carol Butler, said:
“The Insolvency Service will look closely at any evidence of misconduct and take appropriate action where others have suffered as a result of a bankrupt’s actions, as has happened in Mr Fenton’s case.”
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