August 7, 2012 / 1:17 PM / 6 years ago

Ex-Lloyds bank security chief admits $3.9 million fraud

LONDON (Reuters) - A former Lloyds Banking Group (LLOY.L) anti-fraud chief on Tuesday admitted cheating the bank of 2.5 million pounds ($3.9 million) in what prosecutors called a “huge breach of trust” against her employer.

Jessica Harper, who served as the state-backed bank’s interim head of fraud and security for digital banking, faces a lengthy jail sentence after pleading guilty to fraud and money laundering at Southwark Crown Court in south London.

Harper, 50, submitted false invoices to claim a total of 2,463,750 pounds between late 2007 and December last year, the court heard.

The court was told Harper had spent some of the money on property in France, but had given back 300,000 pounds and would be able to repay a further 700,000 pounds from the imminent sale of her home.

She was released on bail and will be sentenced at a later date.

“Jessica Harper has today been convicted of the type of crime the bank employed her to combat ... she has admitted to a huge breach of trust against her former employer,” the Crown Prosecution Service said.

    Lloyds, owned 40 percent by the British taxpayer, said it could not comment while the court process continued.

    Reporting by Tim Castle; Editing by Mark Potter

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