An employee of a personal loan company is facing a jail term after he swindled customers out of thousands of pounds.
Phillip Cartwright , 35, from Spalding, a loan specialist with Provident Personal Credit, pleaded guilty to a series of fraud charges when he appeared before Peterborough Crown Court.
The court heard Cartwright had been able to bypass security checks to open bogus loan accounts for customers. He was then able to make loan applications for the customers without them being aware.
He set up dozens of fictitious loans over one year, withdrawing thousands of pounds. The scam was revealed when auditors were called after customer complaints.
Security procedures have been tightened to stop the same fraud happening again, the court heard. It was noted in court that Provident Personal Credit had been unaware of Cartwright’s actions.
In mitigation, it was said that Cartwright was ashamed of his actions and anxious to repay the stolen money.
He was warned that when he comes before the court for sentencing on February 8, he will probably face a jail term.
Judge Patrick Moloney told him: “This is a pattern of serious dishonesty, affecting both your employer and people who are probably not very rich. This is a case where the judge will seriously be considering a custodial sentence and it is up to you to convince him not to send you to jail.”