A 29-year-old who stole nearly £500,000 from his employers to feed a “massive” gambling addiction and then went on the run as his deception started to unravel is beginning a three-year jail sentence.
Daniel Collinson, 29, was arrested in Edinburgh after telling a colleague he was nipping to the toilet when they were on the way to Barclays, in Hull, to check the business’s account.
He had burned his way through hundreds of thousands of pounds in just eight weeks on Internet sites including Betway and Jackpotjoy - with nothing to show at the end, police said. In just one day he had transferred £50,000 from the business’s account into an online betting account.
Collinson, of Hull Road, Withernsea, who was sentenced at Hull Crown Court yesterday, had admitted a charge of theft by employee at an earlier hearing. He will appear at Hull Crown Court later this year for a confiscation hearing.
Collinson had been a financial director for Hedon-based PGD Ltd, which sells legal highs, and had “more or less full autonomy with the business’s money and used it as his own”, police said.
Det Con Neil White said Collinson, who lived with his parents, had been gambling from a young age: “He has a massive gambling habit. He has gambled more or less all the money, with no return and no assets to speak of.
“He was fairly dishevelled and emotional. He was remorseful - very much so after being interviewed. He was glad to get it off his chest. He has realised he has a massive gambling habit and it is ruining his life.”