A man has admitted embezzling a lump sum of £20,000 from his employers Standard Life to cover his own debts.
Kevin Gillon, 29, from the Broomhouse area of Edinburgh, resigned from his post at Standard Life two days after transferring the money into his current account, but gave no explanation as to why he was leaving his job, according to the Press Association.
At Edinburgh Sheriff Court he pleaded guilty to the charge of embezzlement.
In May this year he instructed a colleague to authorise the transaction, claiming the money was to go into the account of a customer who also had the last name Gillon.
Depute fiscal Iain Batho told the court: "The accused had worked with Standard Life since 1999. On June 1 2011 he resigned and gave no explanation for this.
"On June 9, the company's senior financial crime investigator became aware that £20,000 had been transferred from a Standard Life account into the accused's own personal account. This transaction had taken place on May 30.
"In an interview that followed, he freely admitted he had transferred the money due to a large personal debt.
"He requested authorisation from a colleague, saying the money had to be transferred to a customer's account with the same last name as his."
Mr Batho added that Gillon was arrested on August 11 this year, and since that date he has paid back £11,500 of the stolen cash. Standard Life has also had a further £2,500 arrested from his account.
Sheriff Isabella McColl deferred sentencing until October 26.
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