Don’t Let this Happen to You

Written by Haylie | Thursday, February 5th, 2009

Twenty-six year old Christopher Proudfoot admitted to stealing £1 million from his employer, Highland Network, and losing it in online gambling. The UK’s DailyMailreported that the British finance and credit controller is now facing prison next month.

Proudfoot embezzled the money from the communications firm he worked for over a three-year period and transferred it straight into his own bank account, from which he then blew it at online gambling sites. Initially, he claims that he stole the money to pay off some sports betting debts, but found himself addicted to gambling and stealing more and more cash from the company.

Throughout the trial, Proudfoot, who faces some real prison time, admitted to guilt and to an Internet gambling addiction that led him to thoughts of suicide. He also stated that he hoped others would take warning when they heard his story. According to the DailyMail, there are about 370,000 problem gamblers in the UK. In 2007 alone, UK gamblers lost £9.5 billion, as the British government incurred £2billion in taxes from the gambling industry.

Proudfoot has sought out treatment at psychiatric hospital in Inverness to combat his addiction and gain control of his depression. He says,“I am very sorry to the company. It was never my intention to do this. The intention of gambling was to win, but I found myself in a hole which I could not get out of.” He also stated that he had no idea at the amount of money he had actually spent at online betting. “All of the gambling was on online sites, and mainly on sports accounts. The first I knew of the actual amount was when the police told me. I was shocked. I just got in a hole.” Proudfoot will be sentenced next month after court-ordered psychiatric evaluations take place.