£3.1million company fraudster sentenced in biggest ever loss suffered by HSBC Invoice Finance (UK) Limited

News | Tue 5th Apr, 2016

James Thacker prosecuted Baljit Brad, director of Lister Pharmaceuticals Limited, who was today sentenced at Southwark Crown Court to 3 years 8 months’ imprisonment. The defendant operated a company with a turnover in excess of £30million specialising in healthcare products. The business encountered business difficulties and entered into a factoring agreement with HSBC Invoice Finance (UK) Limited. Baljit Brad defrauded HSBCIF (UK) Limited by notifying them of fictitious invoices and subsequently entered them on the factored ledger to receive payment. The defendant made a number of admissions and subsequently pleaded guilty. 

James Thacker specialises in Financial Crime and was instructed by CPS Specialist Fraud Division.

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