A man has been sentenced for defrauding his employer of £81,000, which he used to help cover a house deposit and a car loan.
Muhammad Shafiq, 33, previously held a financial position at a media company in Bristol, where he transferred funds into his own bank account before funneling them into a company he established.
Residing on Wells Road in Bristol, Shafiq received a 16-month prison sentence, suspended for 12 months, and was ordered to complete 100 hours of community service after pleading guilty to one count of fraud by abuse of position.
At Bristol Crown Court, it was revealed that Shafiq had repaid the stolen amount. He misappropriated approximately £81,000 over an 18-month span, from January 2020 to June 2021.
Avon and Somerset Police Constable Andrew Smetham noted that Shafiq’s fraudulent actions cost the company around £40,000 due to associated expenses and the efforts needed to rectify the losses.
“Fraud is not a victimless crime,” Smetham stated. “This conviction illustrates our commitment to pursuing fraudsters and holding them accountable for their actions. We are now looking into an application under the Proceeds of Crime Act to recover any profits Shafiq gained from his wrongdoing.”