Holidays can be paid for fair and square

Holidays can be paid for fair and square

Tue, 08 Nov 2005

Low cost hotels and no-frills airlines mean that more and more consumers can afford a holiday using their legally earned funds.

However, one Halifax financial consultant recently decided that his employers and clients would subsidise his travels overseas. Graham Price is estimated to have spent around £10 million on a wide range of luxury goods and pursuits including cars, yachts, racehorses and expensive holidays.

Mr Price, who was the main agent at a Halifax's branch in Gowerton, Swansea, spent £2,200 on a shopping holiday to New York as well as £2,300 on a vacation in Portugal.

The fraud was finally discovered following an investigation by auditors who became suspicious over Mr Price's lavish spending habits and the discovery of an IOU for £7 million in the branch's safe.

The disgraced Halifax employee has admitted to 43 charges of theft and deception as well as requesting that a further 263 offences be taken into account – sentencing is expected to be decided this week.

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Holidays can be paid for fair and square

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