DETECTIVES welcomed the sentence handed to a lieutenant colonel-turned finance director jailed for a £628,000 fraud.
Former finance boss at Abingdon-based Kokomo Bruce Cox, 62, falsified invoices and sent them to the company’s bank, HSBC, in order to fraudulently obtain credit and cover up his own mismanagement.
Prosecutors put the value of the fraud at more than £600,000. However, when the bank learned of the deception it re-wrote previous agreements with Kokomo, leading to further difficulties estimated to have put the firm in £2m-worth of debt.
READ MORE: Former army officer jailed for £600k fraud
Cox, of Idmiston, near Salisbury, was jailed for three years and four months at Oxford Crown Court last week. Judge Michael Gledhill QC described the impact of the fraud as ‘horrific’ for the firm and founders Helen and Gary Little.
Welcoming the sentence, Det Con Carly Milward of Thames Valley Police said: “The fraudulent actions committed by Cox have caused a significant and profound impact on the company and all of the staff involved.
“The business was close to liquidation and the financial impact is still felt by the business and will do for some time.
“Cox held a position of trust which he took advantage of and he neglected the financial interests of the company.
“I hope the sentence gives some justice for all of the staff affected by his poor judgement.”
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