A lettings agent who stole over £60,000 from her employer has avoided jail.
Frances Leach was employed by Signature North East’s letting division, based in Tynemouth, where she was responsible for managing properties.
In November 2023, the firm’s managing director, Mark Small, noticed a drop in profits.
He found a hidden tab on a spreadsheet showing unexplained refunds totalling over £57,000 within a six-month period – the expected figure would be £2,000.
Small discovered the concealed transactions involved money moved from client accounts into accounts owned by Leach. These were masked as refunds with bogus names and between March 2023 and February 2024 totalled £62,264.
Small reimbursed clients from his own pocket.
In a victim impact statement, Small said his accountants were unable to pinpoint what was happening and he personally scrutinised nearly 7,000 transactions. He spent £8,000 on forensic accountants and said the company lost £200,000 in additional business as clients pulled out.
Small stated: “I’ve personally invested £250,000 to try to recover the business. I’ve been unable to return to work due to prioritising my health. The business is currently under offer.”
Leach, who has a previous conviction for drink driving in 2017, admitted to two fraud offences. She was sentenced to two years behind bars, suspended for two years, with 300 hours unpaid work.
You can see local media’s reporting of the story here: https://www.gazettelive.co.uk/news/teesside-news/frances-leach-fraud-estate-agent-32859690
