Trusted accountant earned £200k but stole millions to fund gambling and cruises

A trusted accountant who stole a staggering £2.4million from the family-run businesses she worked for has been jailed after blowing huge chunks of the money on gambling, cryptocurrency, and luxury holidays.

Jemma Lewis, 40, from Wolverhampton, pocketed millions while earning a £200,000 salary, and used her insider access to siphon off cash over five years in a shocking abuse of trust. Newport Crown Court heard Lewis stole from five companies owned by James Davies, a man who once described her as “like a daughter", leaving a trail of devastation in her wake.

It was heard how Lewis's greed led to a long-serving employee being unable to access their pension, a company director forced to walk away from the business he built, another boss missing out on his wages, and major issues with underpaid taxes to HMRC, WalesOnline reports.

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Lewis started at the business empire, which includes firms like Daisy Vale Limited, Edward Davies Construction and Fastnet Properties Ltd, nearly two decades ago in 2007 as a receptionist, before climbing the ranks to become the group’s accountant by 2017.

As soon as the company transitioned to online banking, the fraudster began secretly funnelling payments to herself, cleverly disguising them as third-party transactions. The court heard she stole more than £3.6m in total between 2018 and 2023. However, once her legitimate pay was taken out, more than £2.4m was still unaccounted for. Shockingly, at least £1.4m was spent at gambling companies, something which prosecutors say is “likely much higher”.

Other things Lewis squandered the money on include £67,000 in crypto transactions, £9,000 on currency exchange firm FairFX, £3,600 on lastminute.com and £1,000 each on P&O Cruises and Jet2Holidays.

Despite having stolen millions, she even asked her boss for a £163,000 loan to help her buy a house, which was later repaid by her mum and brother.

James Davies, the betrayed boss who once saw Lewis as family, said her actions “affected the lives of countless people” and even deprived the taxpayer through unpaid tax.

Another former director, Mark Cotter, revealed the emotional toll, saying he was signed off work for up to six weeks due to stress and ultimately walked away from the company he helped build. He added: “I’m in disbelief that all of this happened because of Jemma Lewis."

Defending, Neil Corre said Lewis had struggled with a long-standing gambling addiction and didn’t gamble to win, just to keep playing. She has since been clean for over a year and now hopes to use her experience to support others battling similar issues.

Speaking about Lewis, of Mostyn Street, Wolverhampton, he explained: “She’s lost her job, her home and she may lose her liberty, but her moral compass has been restored."

Lewis pleaded guilty to five counts of fraud by abuse of position. Sentencing her to five years in prison, Judge Daniel Williams said: "You have been a gambler since the age of 18, long before you were employed by James Davies. Your upbringing was privileged but also blighted by trauma and sadness.”