HSBC employee is jailed for 18 months for raiding £157,000 from the account of a renowned oil academic who was suffering from dementia so he could take his girlfriend on luxury holidays

Mail Online | 7/26/2017 | Rory Tingle For Mailonline
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An HSBC worker who raided £157,000 from the account of a renowned oil academic with dementia and took his girlfriend on luxury holidays has been jailed for 18 months.

Customer services officer Issachar Stainrod-Holness, 23, assisted married couple Robert and Judith Mabro when they attended his Bayswater branch on December 12 2014.

Mr - Mabro - CBE - Oxford - Institute

Mr Mabro CBE founded the Oxford Institute for Energy Studies in 1982 and served as Director of the Institute until April 2003.

He also became a trusted advisor to some of the most powerful figures in the industry and helped broker a deal between OPEC and its rivals to cut production and stabilise oil prices in the aftermath of the Asian financial crisis.

Visit - Bank - Stainrod-Holness - Couple - Account

Following their visit to the bank, Stainrod-Holness hijacked the couple's account details to set up an initial transfer of £3,200 to his personal Halifax account the very next day.

Stainrod-Holness went on to set up a telephone banking account in the customers' names but using his own contact details as the verification number, Southwark Crown Court heard.

Payments - £3 - £9 - Customers - Account

This allowed him to make a further 45 payments of between £3,500 and £9,000 from the customers' account into his own.

Prosecutor Gregor McKinlay said the fraud went undiscovered for so long because Mr Mabro CBE, who had sole custody of the account, had been battling dementia since 2011.

August - Wife - Statements - Spate - Transactions

It was not until he passed away last August aged 81 that his 78-year-old wife began looking into the statements and discovered the spate of illegal transactions totalling £156,700.

'The fraudulent activity in this case only stopped when the defendant was arrested,' said Mr McKinlay. It is clearly a breach of trust as a bank employee.

Crown - Nature - Telephone - Banking - Arrangement

'The Crown would also argue it is sophisticated in nature, setting up the telephone banking arrangement rather than simply processing one-off payments..'

Judge Joanna Korner, QC, interrupted, saying: 'Set against the fact he used...
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