Ex-treasurer of Waveney Gymnastic Club admits £99,000 fraud

Colin Price

Colin Price - Credit: Archant

The former treasurer of a Suffolk gymnastics club who defrauded it of £99,000 has been warned he could be jailed when his sentenced next month.

Colin Price was the treasurer of Waveney Gymnastics Club at the time of the fraud which took place over a period of four years, Ipswich Crown Court heard.

Price, 59, of Heather Gardens, Great Yarmouth, admitted fraud by abuse of position between 2011 and 2015 when he appeared at Ipswich Crown Court on Thursday.

The court heard that the original charge related to a period between 2009 and 2015 but Price had pleaded guilty on the basis that the fraud didn't start until November 2011.

Michael Crimp, prosecuting, said he took no issue with the basis of plea.

Adjourning sentence until the week commencing March 29, Judge Rupert Overbury warned Price: 'The first consideration will be immediate custody.'

Peter Spary for Price said that mental and physical ill health had resulted in his client having financial problems which he tried to solve by gambling.

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He said Price's house was in the process of being sold and he intended to repay the money he had obtained from the gym club.

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