Dear bank, IOU seven million pounds
A British bank employee who stole huge sums from his employer left a note in a safe admitting he had "borrowed" seven million pounds (10.3 million euros, 12.3 million dollars), a court was told Tuesday. In fact, the true scale of financial consultant Graham Price's theft and deception totalled nearer 10 million pounds, Swansea magistrates' court in South Wales heard. Price faces 43 separate charges and asked for a further 263 offences to also be considered by the court. Asked whether he admitted the charges, the 58-year-old Price said: "Each and every one." Prosecutor Linda Baker said Price was working for the Halifax Bank when he stole the money from the bank and dozens of investors over a four-year period from 2001. He was found out when a cash audit was carried out at the branch and three boxes taped together were found in a safe. Inside one of the boxes was an envelope containing a note which read: "Borrowed, seven million pounds from the Halifax", signed by Price. The former banker will be sentenced next month.