London, Feb. 2, 2007
NRI Rajesh Patel, 36, a chartered accountant of Sutton
Coldfield, has been jailed for three years for defrauding
Barclays Bank of more than £500,000. His salary
was £200,000 a year as a head of finance control
at Barclays in the City of London.
Patel received £161,000 over four years by
using a company credit card.
The judge said, "You have lost your job, ruined
your career, lost your home and good reputation. You
only have yourself to blame for this. It is sad to
see a man of your previously good reputation and skills
here. The motive, to put it bluntly, was greed"
The judge said: "It is necessary to punish you
and mark the public disapproval of such large scale
In June, it was discovered when a 101,000 pound cheque
was returned from a property company and Barclays
found Patel had inserted the figure '10' before a
payment of 1,000 pound.
The Metro newspaper reported that he spent most of
the money on a 750,000-pound house in Westminster,
He pleaded guilty to charges of misusing the company
credit card and deception.