UK NatWest Bank Manager Avoids Jail After Stealing £344K to Fund Gambling Habit

John Toms, a manager at a NatWest bank in London, was spared a prison sentence after admitting to stealing £344,410 from ATMs to fund his gambling habit.

Toms received a two-year suspended prison sentence for the thefts, plus unpaid work, and a rehabilitation program. Watch Your Pocket reported that a recent cancer diagnosis added to a more lenient punishment from Judge Tony Baumgartner.

However, the fraud prevention agency called for a harsher penalty, stating: “We hear repeated promises that fraud is a priority, yet sentences like this undermine confidence in the system and insult victims who have lost everything to similar crimes.

“Until punishments match the severity of the damage caused, fraudsters will continue to believe that the risks are low and the rewards are worth it.”

Long History of Stealing

Toms’ defence counsel, Siddick Gokhool, told the court that his client was remorseful and apologised to both NatWest and his family. The thefts occurred between 2016 and 2024, and the court heard that during this time, Toms had a gambling addiction.

He had worked at the Moorgate branch in London after joining NatWest in 2003. According to prosecutors, he would routinely take cash from registers at the end of the day. Toms then sneaked in early the next morning to replenish the registers using money withdrawn from the ATMs.

The Southwark Crown Court heard that he also avoided detection at quarterly checks by transferring money from other areas of the bank to cover his tracks. Toms also forged his colleagues’ signatures when he needed to balance the books for the ATMs.

Two more internal investigations revealed the missing money. Toms was partly spared a heavier sentence as he repaid £100,000 of the stolen funds, using his pension fund. He’s expected to pay the remaining amount back, but the money was all reportedly lost to gambling.

Asian Courts Hand Down Harsher Punishments

In a similar case, a South Korean banker stole over $287,000 to fuel a gambling habit. The judicial system in South Korea handed out a harsher punishment, however, sentencing the 46-year-old to eight months in prison.

When handing down the prison sentence, the judge said he was showing leniency as the defendant had made efforts to stop gambling.

In China, a former bank employee was given an 11-year prison sentence for stealing funds to fuel his gambling habit. The crime was more elaborate and involved defrauding customers through a Ponzi scheme.

In total, the scheme extracted over $1 million from several private individuals. While the crime in the UK was less severe, Watch Your Pocket advocates for stronger punishments to combat fraud.