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Man Stole £4.5 Million to Gamble Online

An Account Manager from Birmingham plead guilty this week of stealing £4.5 million from two of his employers to gamble online at Ladbrokes and Betfred.

34 year old Terry Childress was given a five year prison sentence for stealing the funds to fund his online betting habit between the years 2007 and 2012. The defendant's scheme was so complex that his first employer did not even notice the missing funds until he was already working at the second firm involved in the case. Upon review, the first employer found 60 bogus transactions that netted Childress £1.6 million in his bank account. An investigation at his second employer uncovered another 80 transactions worth £3 million.

Childress then used the funds to gamble at Ladbrokes and Betfred before he was arrested. In order to protect himself the defendant used other employees' logins and sent cash to family and friends.

During sentencing Court Recorder Miles Watkins said, “You caused the spotlight of suspicion to fall on those who were innocent, no doubt to their enormous distress. There is a suggestion the offending was out of character but over the time these offences were committed it was a fundamental part of your character."

“That people are moved to say it was out of character suggests the deception goes wider than your employers and goes to members of your family and friends as well.”

If you believe you or someone you know may have an issue with gambling, we urge you to get help. We do have a page on our site that can help identify problem gambling behaviors, and can refer you to organizations that can assist you. That page can be found here.

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