Theft 'strikes at the very heart' of Island's finance sector

Finance manager sentenced to prison for offences

A Crosby man's gambling addiction led to him committing a crime which struck at the heart of the Island's finance sector, according to the deemster sentencing him.

Phillip Sean McCarthy stole more than £500,000 whilst working as finance manager at yacht services company Döhle.

He was sentenced to three years and four months in prison by Deemster Alastair Montgomerie at Douglas courthouse today.

Over the course of five years, Mr McCarthy forged cheques, falsified invoices and made fradulent bank transfers to his own credit card account, the court was told.

Deemster Montgomerie described it as a 'significant period of dishonesty' which showed elements of planning and premeditation.  

He said McCarthy was 'very good at covering his tracks' and without his admissions and subsequent co-operation with the police, his offending may not have been uncovered.

A psychiatric report was put to the court, diagnosing the defendant with a pathological gambling addiction, a recognised mental health disorder which Deemster Montgomerie found to obviate any aggravating factor of greed.

Along with adult ADHD, they were considered to exacerbate his urges and could distort his ability to judge consequence.

McCarthy's advocate said his client expressed genuine sorrow and remorse and was fully motivated to tackle his addiction.