Finance director stole £30k to feed cocaine habit

A WARRINGTON Finance Director stole almost £30,000 from his employers to feed his cocaine habit a court heard.
Craig Stockham, aged 33, Finance Director for LiveWire and Culture Warrington, admitted stealing from his employers when he appeared before Halton magistrates today (Tuesday) and was remanded on bail to appear at Warrington Crown Court for sentence in about four weeks time.
Stockham, (pictured right) of Holywell, Flintshire, North Wales, pleaded guilty to thefts from his employers to the amount of £29,169.
He had worked for LiveWire and Culture Warrington since the inception of both companies back in May 2012.
When internal checks in November 2014 discovered potential theft traceable to Stockham he was immediately suspended from his duties whilst a full criminal investigation took place. He was later dismissed.
While both companies had appropriate financial systems and procedures in place the theft occurred as a result of a senior officer in a position of authority abusing his role and the trust placed in him.
Stockham falsified invoices and paid money into his own account, using it to feed a £150 a day cocaine habit
The theft was discovered by the management team in LiveWire and Culture Warrington who acted quickly. In addition to give further reassurance LiveWire has ensured that an independent audit of systems and procedures by Price Waterhouse Cooper (leading UK professional business advisors and auditors) has taken place since Stockham’s theft was uncovered.
After the hearing Jan Souness, Managing Director for both LiveWire and Culture Warrington commented, “As Finance Director Craig was a trusted and valued member of our senior management team, he came to us with impeccable references and was a unanimous choice when he was appointed in 2012.
“He was popular amongst peers and was one of the original team which established LiveWire and Culture Warrington. We worked hard to support each other and we thought there was strong trust and transparency amongst us.
“His actions had a devastating impact on the team in terms of his betrayal of his office, his colleagues, the board and the people of Warrington whom we in LiveWire and Culture Warrington endeavour to serve to the best of our ability.
“Whilst we are insured for the loss and so the impact on both companies in a material sense is minimal, it is the sense of betrayal that has been the hardest to cope with. I’m proud to say that the teams across both organisations have pulled together to ensure the continued high standards of service to our customers.”