‘Broken’ solicitor jailed for £400,000 fraud of his bank

‘Broken’ solicitor jailed for £400,000 fraud of his bank

11 May 2016

A DROMARA solicitor has been jailed for nine months who defrauding a bank out of £400,000.

Judge Patrick Lynch QC rejected appeals of leniency and told David Annett his “betrayal of trust cannot be overlooked in this case.”

Thirty eight year-old Annett, of Church Road, had pleaded guilty to defrauding the First Trust Bank over a £400,000 mortgage, two counts of theft and transferring over £110,000 of criminal property out of his employer’s business account.

Despite appeals from his defence for leniency Judge Lynch told the court: “I don’t regard this case as one which falls into that category of highly exceptional circumstances.’’

He said Annett’s offending had had a significant impact on the the firm of solicitor’s he was working for at the time, JP Hagan in Portadown, who he described as “respected solicitors in this area’’.

Judge Lynch said this Victim Impact Statement had highlighted Annett’s “betrayal of trust’’ which had been placed in him by senior partners in the firm.

Annett received concurrent sentences of 12 months for theft and a further six months for transferring criminal property.

Nicola Auret, prosecuting, had previously told the court that in 2007, while working for JP Hagan Solicitors he was “approached by a senior partner who asked him if he wanted to become a partner in the firm.”

“The offer came at a cost — the cost was £250,000. The defendant remortgaged his home at Church Road with First Trust Bank/Allied Irish Bank.”

He already had a mortgage with UCB Home Loans, which totalled £220,000.

The lawyer said the First Trust Bank believed “they would be the first charge on the property”.

The money was released to Hagan’s Solicitors to settle the UCB mortgage and pay the £250,000 to take up the partnership.

However, Ms Auret said, the UCB mortgage “was not discharged” and “the defendant accessed the business account and transferred the entire amount of monies into his personal account”.

In another incident, Annett was approached by a Co Down family who had been offered £25,000 to buy its land.

He said he would have the money checked out under the proceeds of crime legislation. Whilst having the money in his possession Annett removed £17,380 of the £25,000 for his own personal use.

The court also heard that, in March 2008, Annett moved £112,000 out of the law firm’s business account to “buy himself an investment property in Corby, England”.

Defence lawyer Alan Kane QC said that, after going to the police station Annett went to see his minister and the elders of his church and confessed his crimes.

The defence counsel told the court: “He is a broken man, who has lost his good reputation, his personal standing in public and his professional standing and reputation. He will never work as a solicitor again.’’