Sam McGee, a 39-year-old Barclays employee and treasurer of the Ravenscroft Re-Build Co-Operative in Kirkby, Merseyside, was sentenced to four years and eight months in prison for stealing £266,735.77 from his neighbours to fund an online roulette addiction. The fraud, which spanned from October 2022 to October 2024, left pensioners, families with newborns, and a woman with terminal cancer in financial distress, uncertain about the security of their homes.
How the Fraud Unfolded
McGee, who lived in the community he defrauded, was entrusted as treasurer for 26 properties on St Andrews View. The co-op, operating since the 1980s, provided affordable rented homes managed by an elected committee. Tenants paid into a Lloyds community account, with funds allocated for repairs and emergencies. When McGee took over in late 2019, the community account held £7,720, the repairs fund £38,530, and the sinking fund nearly £112,000. By November 2024, all accounts were empty, and the community account was overdrawn.
McGee exploited his position at Barclays to alter the co-op's financial controls. Initially, fund movements required two signatures from the committee. In 2023, he changed this to a single signature, allowing him to transfer money without oversight. He also intercepted letters from Lloyds about missing payments, which were sent to his mother's house—where he had access. As treasurer, he provided false audit documents to committee meetings, fabricating figures after the 2021-2022 audit.
Victim Impact and Betrayal
Around 25 co-op members attended McGee's sentencing at Liverpool Crown Court on June 24, 2026. Victim impact statements, read by prosecutor Olivia Randell, detailed the devastation. One victim described McGee's actions as "deeply cruel," stating he "stole our security, stability and trust in our home and the co-op." Another, who had returned from hospital bedbound, said, "I didn't know if I would have a home anymore. He knew how vulnerable I was and showed no guilt, no sign of remorse." A woman with stage four terminal cancer had to return to work due to uncertainties about rent payments. A fifth victim remarked, "What is so hard is that Sam was brought up in our community. He systematically stole our money... the fact he still lived amongst us as a trusted member knowing he was bringing our community to its knees is something I can't get my head around."
Recorder Eric Lamb told McGee: "This was a substantial fraud over a substantial period of time with victims you know all too well because they had grown up with you and you with them." He added that McGee's conduct "destroyed" the co-op, explaining, "Those in poor health were worrying about the security of their tenancy, those coping with illness were going back to work, people were having to explain to their children that they were doing their best to keep them together."
Gambling Addiction and Confession
McGee confessed in November 2024 by writing to Lloyds, admitting the money funded an online gambling addiction that began during the COVID-19 pandemic. His mother had taken out three loans to cover his gambling, unaware he had also stolen from the co-op. McGee wrote, "I want to reiterate how sorry I am. There's no money left, I'm sorry to say." The court heard he had attempted suicide in 2024 and spent five weeks as an inpatient at the Priory Centre. His long-term relationship ended, and his home was put at risk.
Defence lawyer Lahraib Iqbal said McGee's mental health declined during the pandemic, leading to online roulette. "The highs were high and the lows were even lower to the point it took a complete grip on his life," she said. Since his arrest, McGee lost his job at Barclays but now drives a taxi to support his two children, aged three and nine. He lives with a new partner and her two children, undergoes therapy, and volunteers for the anti-guns and knives charity Weapons Down, Gloves Up.
Sentence and Aftermath
McGee, who pleaded guilty to fraud by false representation in April 2026, was sentenced to four years and eight months. As he was led to the cells, some co-op members in the public gallery clapped, while others said the sentence was "nothing" and he would be out in "no time." The court noted McGee lacks the means to repay the stolen funds, so the Crown Prosecution Service will not pursue proceeds of crime proceedings.
The Regulator of Social Housing investigated Ravenscroft Re-Build Co-Operative in July 2024, finding "significant liquidity issues, putting social homes at risk" and a control framework that "exposed it to the potential for fraud and material loss of public funds."
