Steven Armstrong could face jail after taking proceeds from cars sold at his place of work to help fund his gambling problem.
He sold three cars which belonged to his employers at West Bridgford’s branch of Vertu Volkswagen, ‘ falsifying paperwork to cover his tracks, before admitting his crimes when a colleague questioned a suspicious invoice.
Prosecutor Lee Shepherd told Nottingham Magistrates Court that Armstrong had also set up unauthorized credit from loan sharks to help the fraud.
Six cars were involved in the fraud, two of which were still on the firm’s forecourt and another was traced by police.
The value of the cars was put at £9,450 with another £5,000 relating to the unauthorised credit, the court heard.
Alex Chapman, mitigating, said: “He developed a gambling addiction following his mother’s death and increased pressure of work.
“Things spiralled and he came across a person who he thought was offering him help. But that person started to manipulate him.
“Threats were made against Mr Armstrong when he was asked about his wife and family.
“They were very specific and he found it terrifying.”
Armstrong has since received help from Gamblers’ Anonymous and has now found new employment.
