Insurance News: AVIVA manager stole GBP1.4 m
An insurance manager and a former policeman plus 10 others have been jailed for their involvement in a fraud on AVIVA and the subsequent laundering of more than GBP1.4 million.
John Taylor, 35, worked for Norwich Union in York where he was an operations manager. There he had access to data about inactive accounts.
Before the accounts were declared dormant, he transferred money out of them, and used the money to buy big-brand watches, which Stephen Spellacy, 36, then sold in a classic fencing operation.
Taylor pleaded guilty to two conspiracy charges - fraud and money laundering - and last week he was sentenced to five years in jail.
Spellacy, however, was sentenced to more than eight years, convicted of laundering proper. Spellacy used the money to fund a lifestyle far above that of a typical plod: prostitutes, cocaine, a lap-dancer mistress, an illegal gun and ammunition and hotel rooms costing more than GBP1,000 per night went down badly with the Court.
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