Construction Boss Sentenced for £700,000 Fraud

Wesley Grainger-Smith, a 66-year-old construction boss from Nottinghamshire, has been sentenced to two years and four months in prison for fraudulently removing over £700,000 from four struggling companies to fund his gambling addiction. Operating between 2014 and 2017, Grainger-Smith, who acted as a director despite not being officially listed, transferred company funds into his casino gaming account. The Insolvency Service's investigation revealed he claimed to have repaid around £570,000 of the amount, asserting it was from his gambling winnings, but he was never entitled to gamble with company money. Mark Stephens, the Chief Investigator at the Insolvency Service, emphasized that such actions are unacceptable and that individuals acting as directors will face prosecution for fraudulent activities. The funds were withdrawn from the accounts of Eagleport Ltd, Smiths Constructions Ltd, Smiths Construction Services Ltd, and Smiths Construction Specialists Ltd, all of which faced liquidation during this period. Grainger-Smith's case highlights the ongoing efforts to hold directors accountable for financial misconduct.