West Yorkshire man who sold on his company's cars to fund luxury lifestyle is jailed
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Keith Waud-Richard was sentenced to three years and two months at Bradford Crown Court yesterday after he admitted abusing his position of trust at Provident Financial Group, where he worked on a £27,000-a-year salary as a vehicle fleet advisor.
The 54-year-old from Wakefield had been “cooking the books” and spent a vast sum of the stolen money to fund a luxury lifestyle, buying “irrelevant fripperies” such as designer sunglasses and bags.
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Hide AdSuspicions were raised in 2018 that Waud-Richard had been using stolen money to fund his taste for designer goods and investigators searching his Mercedes SLK discovered £18,000 in cash in the boot.
Adam Walker, prosecuting, told the court more than £27,000 in cash was seized from Waud-Richard, including Louis Vuitton and Gucci jewellery worth nearly £10,000.
The defendant also dishonestly sold on 26 company cars, obtaining £216,652.
The court heard that Waud-Richard had used “an innocent dupe” to sell on the Bradford-based company's vehicles, receiving the book value to spend on himself.
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Hide AdDefending Waud-Richard, David McGonigal said his client suffered from a lack of self-esteem and had always wanted to appear as a successful businessman. He said the defendant had now lost his job and the respect of friends and family and he knew that a prison sentence was inevitable.
Sentencing, Judge Jonathan Rose said the defendant had “risen through the ranks” to his position of trust, but over nearly six years he had feathered his nest, quite literally, with the purchase of irrelevant fripperies.
“You were in possession of thousands of pounds in cash when your world came tumbling down thankfully by your arrest,” said Judge Rose.
The judge said Waud-Richard had more than many have, but he had wanted the trappings of wealth.
“You will return to this court on the 24th of July for the Proceeds of Crime Act hearing when we will begin the process of stripping you of all that you have acquired through your greed,” he added.