Building society worker admits �100,000 fraud
STOWMARKET: A building society employee has admitted a fraud totalling nearly �100,000.
Andrew Timms was working as customer services manager at the Market Place branch of Nationwide Building Society at the time of his arrest.
The 28-year-old, of Friars Way, Great Whelnetham, near Bury St Edmunds, was charged with fraud by abuse of position on February 8.
Yesterday, he pleaded guilty to the offence, which relates to an eight-month period last year.
The wording of the charge read: “Between April 1, 2009, and December 1, 2009, at Stowmarket, (Timms) committed fraud in that while occupying a position, namely customer services manager in which you were expected to safeguard or not to act against the financial interests of Nationwide Building Society, you dishonestly abused that position, intending thereby to make gain, namely �96,198.17, for yourself contrary to Sections 1 and 4 of the Fraud Act.”
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Timms, wearing a dark pin-stripe suit and glasses, spoke only to confirm his name and enter his plea at Ipswich Crown Court.
The hearing was adjourned while reports are considered.
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Judge John Holt released Timms on unconditional bail until his sentencing hearing at Ipswich Crown Court on June 1.
A spokeswoman for Nationwide said: “A conclusion to the case has not yet been reached in court, therefore I am unable to discuss the matter for legal reasons.
“However, what I can say is that Nationwide takes any allegation of fraud very seriously. We encourage prosecution where appropriate and fully support the police with their investigations.”