Former bank employee sentenced over £130,000 scam

24th August 2023

A London-based criminal gang has been sentenced over £130,000 scam.

The initial investigation and arrest were made by specialist banking industry-sponsored police unit – the Dedicated Card and Payment Crime Unit (DCPCU)

The two criminals committed around £130,000 of fraud have been sentenced at Southwark Crown Court to a combined total of 5 years and 7 months in prison.

Nathan Gilbert, a former bank employee in Muswell Hill, abused his position of trust at the bank to commit fraud. Between 11th October 2020 and 16th September 2021, he changed bank customers’ account details and fraudulently issued bank passbooks, liaising with Daniel Frank to defraud several customers.

The fraud was spotted by the bank and referred to the DCPCU to investigate. Officers identified that Gilbert had provided Frank with several of the bank’s customers’ details. CCTV footage from the bank revealed that Frank had organised for individuals to attend the bank branches that Gilbert worked at, purporting to be those customers to withdraw money or make changes to the accounts.

Officers arrested Gilbert and seized his mobile phone for examination. His phone messages linked him to the accounts of defrauded customers, and revealed his contact with Frank. Officers arrested Frank and also seized his mobile phones which, upon examination, linked him to the fraud offences.

Gilbert pleaded guilty to conspiracy to defraud the UK banking industry and for committing fraud by abusing his position of trust. He received a custodial sentence of 2 years and 3 months in prison. Frank pleaded guilty to conspiracy to defraud the UK banking industry and received a custodial sentence of 3 years and 4 months in prison.

Detective Constable Colin Calvert, who investigated the case for the DCPCU, said “Gilbert abused his position of trust at the bank, liaising with Frank to callously steal over £130,000 from unsuspecting victims. Fortunately, we were able to identify these criminals and bring them to justice, after working closely with the banking and finance industry.”

“This sentencing is a warning to those who believe they can benefit financially from fraud, that they will be caught and punished.”