Terrance Thackrah diverted commission meant for brokers
Former RBS Insurance exec Terrance Thackrah (58) has been jailed for six years for a £1.1m fraud that diverted commission payments to brokers into his own accounts, the Express reports.
Thackrah bought a four-bedroomed detached villa with its own pool in northern Cyprus where he moved with his new Thai bride he met on the internet.
He bought a £50,000 Range Rover with a personalised registration plate and made frequent trips back to the UK to collect cash, staying in top London hotels and dining in some of the capital’s finest restaurants, the Express says.
Broker payments stolen
He had been responsible for acquiring new business and managing accounts with insurance brokers and arranging commission payments to them through an automated system.
Leeds Crown Court heard that in 2004 Thackrah changed the account details to which the commission money was paid from the right ones to his own. Figures transferred to him ranged from £10 to £10,000 a time.
Judge Peter Hunt said: “This was dishonesty on a very serious scale – the breach of trust was obscene.”
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