Solicitor denies cheating college out of £730,000

A SOLICITOR helped to cheat Oldham Sixth-Form College out of £730,000 which went to buy gold bullion, the Old Bailey heard.

Andrew Wormstone received money from the college that was meant to be passed to a building company.

Police arrested him after he transferred the money to another account used to buy gold, jurors heard yesterday.

Wormstone (43), of Ashworth Road, Pontefract, denies concealing criminal property of £2,634, and transferring criminal funds of £730,000 in March last year.

Martin Hooper, prosecuting, said the money was sent to Wormstone’s law firm in Leeds after the college received a letter claiming its builder had changed its bank account.

After two days, most of the funds were transferred into an account of a “Mr Marshall”, who has never been traced and who may not exist, said Mr Hooper.

He said: “We do not assert Mr Wormstone was directly involved in defrauding the college.”

Wormstone told police he retained £2,634 for his fee and was acting on behalf of a client who wanted to invest in gold, and had not suspected anything was wrong.

Oldham Sixth Form College did not lose any money as a result of the transaction.

PROCEEDING