London, Oct 4 (PTI) An Indian-origin fraudster who swindled thousands of pounds from his employer to pay back money he stole from a previous employer has been ordered to pay back GBP 78,000 by a UK court.

Mayur Gaglani, 48, from Penarth in Wales is believed to have stolen around GBP 250,000 from the first company, ‘Wales Online' reported last week.

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He then got a new job at a small company selling electrical items in order to pay off the stolen money from the first company and used false invoices and the company's credit card for that purpose.

An investigation into Gaglani's financial affairs had revealed that he had spent over GBP 5,000 of the company's funds while on vacation. He was arrested and formally interviewed by police and is said to have gone on to make “full admissions" about his fraud.

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According to the court report, a “proceeds of crime” hearing at Cardiff Crown Court on Friday heard that Gaglani benefited to the tune of GBP 78,033 as a result of the theft but had available assets worth GBP 375,000. It led Judge Rhys Rowlands to order him to pay the sum of GBP 78,033.

Prosecutor Ieuan Bennett told the court that the defendant created false invoices for work apparently charged to his employers.

"The invoices were then paid out via the company but in fact the company was not going to pay genuine suppliers but it was going to the defendant's bank account. This amount totalled a little over GBP 64,000," he said.

The court heard that Gaglani told the company's director, Matthew Porter, that he was in a civil dispute with his former employers. Porter loaned him money to help him pay off his debts, which it turned out he used to try and clear up his previous fraud.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)