Margaret Jacovelli, 48, has avoided a jail sentence after embezzling nearly £150,000 from an energy utility company and a family firm. She appeared at Dumbarton Sheriff Court and was placed under supervision for two years after pleading guilty to two charges of embezzlement. The Kilwinning woman was also ordered to carry out 300 hours of unpaid work and made subject to a restriction of liberty order for six months.
How the Embezzlement Occurred
Jacovelli used her position as a finance administrator to direct funds into the bank accounts of family members before the money was then deposited into her own accounts. She began embezzling money from her employers at Clydebank-based Together Energy between January 14 and February 18, 2022, just before it was forced to go into administration. Before the company collapsed, she made multiple refunds totalling £54,336.16 from the business to an account in the name of a family member, who did not have a company account. Similarly, she made 68 payments totalling £74,028 to an account in the name of her former partner, who also did not have an account with Together Energy.
Second Offence at Hayward Contracts Ltd
After Together Energy entered administration, an official identified the credit payments which ultimately were transferred to an account held by the accused. Jacovelli then joined Ayrshire steel fabricators Hayward Contractors Ltd in April the following year and was given access to the company’s bank account to pay supplier invoices. She was dismissed from this job in August and weeks later a company employee identified that unauthorised payments totalling £19,946.22 had been paid into Jacovelli’s bank account. Police were informed and she was subsequently arrested, but £60,000 of the money stolen was never recovered.
Prosecutor's Statement
Anne-Marie Hicks, Procurator Fiscal for North Strathclyde, said: “As an employee of two companies, Margaret Jacovelli committed an appalling breach of financial trust. She flagrantly abused her position on both occasions to embezzle thousands of pounds. The financial welfare of both those businesses depended on the very funds that she stole. This case demonstrates that those who seek to exploit corporate funds for their own personal gain will be held fully accountable for their crimes. We will always prosecute in such cases when it is in the public interest and where there is evidence to do so.”
