Shipyard finance boss stole £1.9m to fund his gambling

'He realises his actions could have resulted in the destruction of a great company and dire consequences for many'

- By ADAM EVERETT ECHO Reporter

Allan Wood has been jailed

THE finance director of Cammell Laird stole nearly £2million from the company as his gambling habit spiralled out of control.

Allan Wood swindled his employer out of the staggering sum over the course of more than a decade.

He also billed the company for tickets to a Champions League final and football season tickets, later concocting a bizarre excuse that his fraudulent activities had related to suspect spying within the firm.

Liverpool Crown Court heard yesterday that Wood “effectively stole nearly £1.9million” from the business between 2007 and 2020.

The 59-year-old, of Saltersgate in Ellesmere Port, had first joined the Birkenhead shipbuilder in 2006 before being promoted to finance director in 2008, receiving a salary of between £40,000 and £61,000.

Jonathan Rogers, prosecuting, told the court: “The defendant had responsibility for the day-to-day management and control of Cammell Laird’s accounts and finances. He had overall responsibility for the department. As director, he was at the top of the finance chain, given the trust and authority to make decisions of a financial capacity.

“He abused his position and stole nearly £2million from his employer over a period of 12-and-a-half years.”