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Man admits fraud against Barnard Castle-based Teesdale Mercury
David Vasey vowed to refund the former owners of the Teesdale Mercury after admitting a single charge of fraud at a plea hearing at Durham Crown Court on Wednesday (February 25).
The 63-year-old defendant committed the offence between June 2012 and September 2016 when he was initially financial manager and then financial director of the Barnard Castle-based weekly.
Vasey, said to be living in Normandy, France, appeared before the court last week, facing several counts of fraud by abuse of position.
Defendant David Vasey will be sentenced at Durham Crown Court in April for defrauding the Teesdale Mercury of £75,000 (Image: The Northern Echo)
His counsel, Chris Knox, said both he and his prosecution counterpart, Martin Towers, hoped to satisfactorily resolve the case prior to a provisional sentencing hearing, then set for March 19.
On the defendant’s return to court, on Wednesday, Mr Knox asked if the charges could be put to the defendant.
Vasey denied six counts of fraud but pleaded guilty to a seventh charge alleging that he made unauthorised payments to himself, of funds belonging to the Teesdale Mercury, between 20212 and 2016.
Mr Knox told the court: “We have been endeavouring to resolve this through discussion.
“He accepts fraudulently taking funds while working for the company and will pay £75,000 by the sentencing hearing.
“We have taken a long time to get to it and the complainant had to be consulted.
“What we are now anxious to do is that there should be acknowledged repayment before he is sentenced.”
Mr Knox also asked if a Probation Service background report could be prepared on the defendant in time for the sentencing hearing.
Judge Jo Kidd asked if the defendant had a fixed address in this country where he could live as a condition of his bail.
The court was given an address in Daisy Fields, Longframlington, Northumberland.
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Judge Kidd told Vasey: “The fact I’m adjourning your sentence for a pre-sentence report shouldn’t be taken by you as any indication as to the sentence in this case.
“Paying back what you stole would assist.”
He was bailed to return to the court for the new date for the sentencing hearing which was re-fixed for Thursday April 23.