The trial of Ian Woodall, a former Westminster City Council pension fund manager, concluded on 15th October 2018.
Woodall has been convicted on a charge of fraud by abuse of position and a second charge of concealing criminal property.
Ian Woodall worked for the council as the interim head of the pensions and investments team for approximately three years and was employed as a contractor through a consulting company. During this period, he was responsible for the day-to-day oversight of the council’s pension fund including liaison with the council’s bankers on payments to be made and investments received. Mr Woodall was at that time a trusted member of the team with an appropriate level of responsibility.
Sentencing is scheduled for 16th November 2018.
A Westminster City Council spokesperson said: “This was a serious breach of the council’s trust from a senior employee, resulting in a detailed police investigation.
“This was a significant time ago. Since then we have changed our processes to make them even more robust and kept these under review.
“The fact we were able to pick this up and successfully prosecute is positive and we will now do all that we can to recoup this money through the courts.”