A LOAN collector who defrauded almost £30,000 from her employers claimed she used the money to buy equipment for her disabled son.
Marie Smith, 39, worked for a finance company which sells loans to people on low incomes who cannot borrow from high street banks, then charged them up to 200 per cent interest.
But she took out loan agreements in false names and in the names of f
ormer customers without their knowledge over a year.
Smith carried out the fraud while working as a collection agent for Midlothian-based finance company Wilson Tupholme between November 2005 and 2006.
She pleaded guilty to obtaining £29,300 by fraud at Edinburgh Sheriff Court today and is on bail until she is sentenced later this month.
Fiscal depute Ross Mackay said Smith was paid to make weekly visits to customers' homes to collect their loan repayments and to find new business.
Customers who borrowed as little as £200 were often faced with 32 weekly repayments of £10 and had to borrow from other sources to pay it back, he said.
In November 2006, Smith's branch manager noticed she had failed to pay in money she had collected and phoned her.
She denied there was a problem but failed to turn up to work the next day.
Smith broke down and admitted falsifying the loan documents when she was confronted by her boss at home.
Police were called, and she admitted the fraud.
Defence agent Blair Wilson said she had taken the money to help pay for her son, who has cerebral palsy.
"She is acting as his full-time carer. She used the money to buy specialist equipment to help him with his illness," said Mr Wilson.
She had sold her home in Fraser Avenue, Granton, to pay back £15,000 of the money and has now moved to Bridgeton in Glasgow.
He said Smith had been encouraged to use aggressive sales tactics by her manager at the Bonnyrigg firm, who had since quit.
"She's thoroughly ashamed of being in court today and of her involvement in this fraud," Mr Wilson added.
The full article contains 362 words and appears in Edinburgh Evening News newspaper.
