Trainee Accountant Faces Jail Term For GBP500k Fraud

A trainee accountant could be sent to jail for taking part in a half-a-million pound fraud.

Between May 2007 and February 2008, Imran Ali, 25, used his job at HBOS to steal personal information about wealthy customers.

More than eight conspirators were in on the scheme. They used the personal details to create false accounts, fooling HBOS into believing the accounts were being debited by their owners.

Prosecutor Simon Kealey revealed that Ali, who was at the time was studying accountancy at Bradofrd University, used his position to access nine customer accounts and steal almost £500,000.

A further £100,000 worth of transactions were prevented by HBOS once the bank became aware of the fraud.

An audit trial showed he trawled HBOS customer database on a regular basis, and was the only employee to have accessed all nine of the breached accounts without a legitimate reason to do so.

Ali pleaded guilty to conspiracy to defraud and could now face time in jail.