Sarah Gibbs
Theft and false accounting *
Sentence
42 months imprisonment
Sarah Gibbs, a former Hove bank manager, stole £275,000 from HSBC customers' accounts over six years from 2005 to 2011 while managing branches in Hove, Shoreham, and Goring. She falsified records and transferred money from internal accounts to cover her tracks. The theft was discovered during an internal audit after a customer inquired about unmade investments. Victims included pensioners and her own friends. She laundered the funds through over 50 bank accounts operated by her and her husband, spending on a house deposit (£23,000), car deposits (£15,000), wedding deposits (£3,500), a pony and stables (£35,000), casino trips and online gambling (£30,000), and holidays (£7,500). HSBC reimbursed victims and recouped her staff pension via civil court.
Pleaded guilty to stealing the money and false accounting. Ordered to repay £73,000 under Proceeds of Crime Act, with additional 1 year imprisonment if not paid within six months.