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Accountant who stole 5.5 million sentenced to 10 years in prison

Sat, 12 Dec 2015

A thieving accountant who stole over £5.5 million has been sentenced to 10 years in prison.

64-year-old Port Erin man Richard Costain appeared before the Court of General Gaol at Douglas Courthouse yesterday.

13 counts of theft and one of obtaining a money transfer by deception were read out.

Between 2004 and 2014, Costain stole client funds at his workplace - proceeding to launder it through hundreds of separate payments. 

In August last year, he fled the Island within hours of colleagues challenging discrepancies - police found and arrested him in January of this year.

Sentencing him Deemster Montgomerie said he had committed "grave breaches of trust" and described the thefts as "staggering".    

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