An insolvency manager who worked for the Insolvency Service, the government agency, has been reported to the police for allegedly stealing £126,000.
The Insolvency Service, which administers the insolvency regime in England and Wales, confirmed to Credit Today “internal incidents” involving the alleged theft by an employee of £126,444 from insolvent estates.
This resulted in “fruitless payments,” the service claimed, of £155,343 to compensate for the estate account losses.
Solicitors have been instructed to take civil recovery action in this case and £88,000 of the losses have been secured against the property of the employee.
Details of the incident have also been reported to the police and the employee has been charged, although the Insolvency Service refused to name the individual.
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