A greedy landlord who stole over £167,000 from her lettings agency employer has been revealed as someone living in a £1m house she purchased in cash.

Hemalatha Jayaprakash worked at a Birmingham branch of Northwood lettings agency for 12 years, originally as an accountant and later as a personal assistant, and made dozens of illegal transfers from business and client accounts to herself.

Jayaprakash admitted fraud by abuse of position and was sentenced to two years and three months in prison. 

A £26,000 discrepancy was discovered when the owner of the franchise sold the business in December 2023 and the accounts were examined.

The Birmingham Mail has reported that Jayaprakas had made payments from the firm to non-existent landlords: this was found to be her own bank account, when she submitted an expenses claim.

At different times during an investigation she claimed she had paid £29,000 into the business herself in 2019; later she claimed she had stolen £55,000 and offered to repay the money. But this was a significant understatement of the amount she had actually stolen.

It was established Jayaprakash had taken £167,062.68 via 158 transactions between January 2021 and March 2024. 

The owner of the franchise had to release equity from his own home to make his finances meet, while Jayaprakash was reported to live in a £1m property, purchased outright in 2018, and received income from a portfolio of at least eight rental properties.

Recorder Amy Jackson is quoted as saying: “Everything I have read about this lady takes me to the belief she is from an affluent background where she ought not to need to steal to fund a lifestyle and effectively does lead a lavish lifestyle. This was pure greed.”

You can read more details here: https://www.birminghammail.co.uk/news/midlands-news/greedy-mum-living-1m-house-31692045