Financial Director jailed for Stealing £80k from Employer

A financial director from Chigwell has been handed a prison sentence after he stole £80,000 from his employer over a three-year period.

Financial Director jailed for Stealing £80k from Employer f

"You had the audacity to tip a waiter £100"

Financial director Henry Sathiya-Balan, aged 34, of Chigwell, Essex, has been jailed for three years after he stole £80,000 from his employers.

He was jailed on September 5, 2019, at Wood Green Crown Court after he was found guilty of two counts of fraud.

Sathiya-Balan was also convicted of possession of criminal property and a confiscation timetable has been set for the recovery of his assets.

He had been employed at architects firm Watkins Gray International in London Bridge and used his company credit cards to fund a lavish lifestyle.

The offences took place from April 2014 and lasted three years.

Sathiya-Balan purchased hotel rooms and paid for luxury holidays to Dubai, Portugal and the United States.

He used a private and exclusive chauffeur agency through which many high-value payments were made, including taxi bookings and even helicopter rides.

The financial director continued stealing for three years before company officials noticed that the company was being fined over £5,000 a week for unpaid bills.

The company’s director requested a meeting but on the day, Sathiya-Balan called in sick and subsequently did not return to the job.

This resulted in the police being informed. Sathiya-Balan was arrested on June 20, 2017, but was released under investigation.

Following a long investigation, Sathiya-Balan was charged.

He had denied fraud, claiming that he was entitled to spend the money and was a hard-working member of staff. But he was found guilty of fraud.

Judge Rachim Singh told the financial director:

“There were luxury holidays claimed for, expensive stays in expensive hotels particularly The Shard, and occasions when you booked very exclusive restaurants for your own use, including one occasion you indicated was for your wife’s birthday.

“You had the audacity to tip a waiter £100, that was the sort of lavish lifestyle you decided you were able to live by simply defrauding your employer.

“There are numerous examples of using taxis, concierge services, and hotels booked on a regular basis.”

Judge Singh said Sathiya-Balan had shown “little or no remorse” about the position he put his employer in.

The Ilford Recorder reported that Henry Sathiya-Balan was jailed for three years.

After sentencing, Detective Constable Samuel Cafferty of the South Area Command said:

“Sathiya-Balan has caused significant financial loss and distress to those whom he worked with.”

“While an exact figure of how much money Sathiya-Balan took has yet to be confirmed, it is estimated he stole in the region of £80,000 for his own personal gain.

“He had absolutely no thought for those around him, abusing the trust of his employers and continued taking money for three years while he worked; enjoying expensive trips, lavish accessories and a wealthy, selfish way of life.

“He is undoubtedly deserving of the punishment that the judge has provided.”

Dhiren is a journalism graduate with a passion for gaming, watching films and sports. He also enjoys cooking from time to time. His motto is to “Live life one day at a time.”

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