Barrow fraudster left victims £115,000 out of pocket
Last updated at 11:34, Wednesday, 06 March 2013
A BUSINESSMAN who defrauded and stole £115,000 from victims including Furness Enterprise and forced his grandfather’s club out of existence has been jailed for three years.
While Andrew Rae spent some of the money on business debts, he also “frittered away” much of it buying gifts for “dubious” women and escorts, Barrow Crown Court heard.
Between January 2010 and March 2011, Rae, 34, illegally claimed £41,000 in grants from Furness Enterprise, forged documents to steal £67,730 from the South Lakeland District Lodge and defrauded a business associate out of almost £9,000.
Prosecutor Mr Lee Bonner told the court in March 2009, Rae set up a company named North Atlantic Systems, which devised computer systems to help companies with risk management.
At the end of that year, Rae met Malcolm George who ran two similar companies and proposed they set up an umbrella company that incorporated their businesses.
To finance this, it was agreed Mr George would take out loans totalling £19,700.
However, Rae, of Roose Road, used the cash to pay outstanding wages for staff, rent and debts. He forged documents and emails to make Mr George believe he was paying invoices for other services.
Mr Bonner said: “Mr George has never had anything back in return for the joint business venture.”
In March and July 2010, Rae was granted £26,000 and £15,000 respectively from Furness Enterprise after falsely claiming to employ 13 people.
To get the money, Rae forged payslips and P46 forms stating the people were his employees.
However, the biggest loser was the South Lakeland District Lodge, a club which members join and pay into in return for receiving financial help with medical and dental fees.
Rae’s grandfather, Eric Pickston, 86, was in charge of overseeing its accounts, Mr Bonner said. Rae offered to “help him do the society’s accounts” but instead forged documents to make payments to himself totalling £67,730.
The club was left with just £300 and has been forced to merge with another lodge.
Judge Beverley Lunt told Rae: “You frittered away all of this money on a very wasteful lifestyle, involved with women of a very dubious character.”
As well as jailing him for three years, she also barred him from being the director of a company for 10 years.
First published at 16:37, Tuesday, 05 March 2013
Published by http://www.nwemail.co.uk
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probably because he's a smoother talker......
Well love to know how he got that from furness enterprise, I couldnt even get Â£500 and my shop has been going 4 yrs?