Ipswich: Thief jailed after lengthy investigation
PUBLISHED: 18:43 11 July 2011 | UPDATED: 18:46 11 July 2011
A thief who stole thousands of pounds from customers at the Credit Union has been jailed for 32 months after pleading guilty to a string of offences.
Simon Pain, 40, of no fixed address, worked as a branch manager at the Ipswich and Suffolk Credit Union and was arrested on September 10 last year after his bosses discovered money missing from 300 customer accounts.
A police investigation found Pain had credited cash deposits to accounts but kept the money for himself, set up fake loans and also cashed cheques payable to himself.
Pain was charged on April 18 this year with the theft of over £100,000, two counts of fraud and converting criminal property between April 2008 and September 2010.
Pain was sentenced to 32 months imprisonment at Ipswich Crown Court today – the sentence was welcomed by investigating officer DC Darrell Dunnett.
He said: This was a lengthy and complex investigation into the theft of tens of thousands of pounds deposited by local, sometimes vulnerable people.
“The nature of the Credit Union means their members are often unable to get financial services elsewhere, and so are increasingly dependent upon the Credit Union for their banking needs – Pain exploited this vulnerability and kept their cash for himself.
“None of the Credit Union’s customers are out of pocket, but Pain’s offending has hit the Credit Union itself hard.
“He must now suffer the consequences of his crimes by spending a lengthy spell in prison.”
Suffolk Constabulary will apply, through the Proceeds of Crime Act, to recover his criminal assets and put them back in the public purse to be spent on those that need it.