Estate agent worker Frances Leach, 33, was exposed by her employer
Frances Leach, 33, admitted fraud
A trusted estate agent worker, Frances Leach, who stole more than £66,000 from her employer in a shocking breach of trust, has managed to avoid prison. Leach was employed by Signature North East’s letting division, based in Tynemouth, where she was responsible for managing properties.
In November 2023, the company’s managing director, Mark Small, noticed a large drop in profits. When he questioned Leach about it, she provided an excuse and was asked to compile a report.
However, when she failed to deliver the report, which was out of character for her usual efficiency, Mr Small grew suspicious and quietly began his own investigation. He uncovered a hidden tab on a spreadsheet showing unexplained refunds totalling over £57,000 within a six-month period, a figure that would typically have been around £2,000.
Further investigation by Mr Small revealed that these hidden transactions involved funds being transferred from client accounts into accounts owned by Leach. These transfers were disguised as refunds under false names, with the total amount stolen between March 2023 and February 2024 reaching £62,264.
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When confronted, Leach, 33, of Larchwood Gardens, Gateshead, offered no explanation and left the company in February 2024. The managing director then contacted the clients whose money had been taken and reimbursed them from his own pocket, Newcastle Crown Court heard, reports Chronicle Live.
It also transpired Leach, who had been letting a property in Ponteland managed by the company, had used money from company client accounts to pay her rent and for work carried out during her time there. That fraud amounted to £4,010.
In a victim impact statement, Mr Small said he found himself “under immense strain” when his firm started experiencing unexpected financial pressures in 2023. He said his accountants couldn’t identify what was going on and he personally reviewed nearly 7,000 financial transactions, which had an impact on him and his pregnant partner.
He ended up paying £8,000 to hire forensic accountants and he said the company lost £200,000 in further business as clients withdrew.
Mr Small said: “The consequences have devastated both my personal and professional life.
“I have suffered severe illness due to the stress.
“I listed Signature North East for sale because the pressure had become too much. I’ve personally invested £250,000 to try to recover the business.
“I’ve been unable to return to work due to prioritising my health. The business is currently under offer.
“I continue to grapple with the profound impact of the defendant’s betrayal.”
Frances Leach, 33, of Larchwood Gardens, Gateshead, admitted fraud
Leach, who has a previous conviction for drink driving in 2017, pleaded guilty to two fraud offences. She was sentenced to two years suspended for two years with 300 hours unpaid work by Judge Julie Clemitson.
Susannah Proctor, defending, said: “The business has, thankfully regenerated.” She added: “The defendant is truly remorseful for her actions and she accepts full responsibility for her actions.”
Miss Proctor said Leach had been in a “toxic” relationship which left her in debt and felt she had no choice but to commit the fraud at the time. She added: “She’s deeply ashamed at her conduct and for the effect on her and her family, her mother in particular.
“She has changed her life, she has changed her habits. She has continued to work hard and try to make the best of herself.
“She works at a racing yard and has returned to university to improve herself.”