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Ex-Standard Life employee admits £20k embezzlement

A Standard Life employee has admitted embezzling £20,000 from the firm to cover his own debts.

Kevin Gillon, from Edinburgh, who resigned two days after transferring the money into his account, told a colleague in May to authorise the transaction, claiming the money was to go into the account of a customer with the same name, the Press Association reports.

Gillon pleaded guilty to the charge of embezzlement at Edinburgh Sheriff Court after being arrested on August 11.

He has since paid back £11,500 of the stolen cash. Standard Life has also arrested a further £2,500 from his account.

Sheriff Isabella McColl deferred sentencing until October 26.

Depute fiscal Iain Batho told the court: “On June 9, the company’s senior financial crime investigator became aware that £20,000 had been transferred from a Standard Life account into the accused’s own personal account. This transaction had taken place on May 30.

“In an interview that followed, he freely admitted he had transferred the money due to a large personal debt. He requested authorisation from a colleague, saying the money had to be transferred to a customer’s account with the same last name as his.”

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