The former head of Westminster Council’s pension fund who plundered more than £1 million to splash out on a new home and a car has been jailed for seven years.
Ian Woodall, 47, raided the fund between 2010 and 2012, moving money to bank accounts in Switzerland and The Seychelles under the guise of investments.
Investigators later found that Woodall had used £100,000 of the stolen money as a deposit on his new home, he spent £45,000 on home improvements, and £15,000 on the purchase of a Renault Scenic.
He also used the money to pay off his tax bills, Southwark crown court heard.
At court today, Woodall was jailed for seven years by Judge Stephen Robbins who said the former council worker should be put on suicide watch behind bars.
“The time has come when you must be sentenced for this appalling conduct”, said the judge.
“You occupied a position of trust, and this was persistent abuse of that trust.”
The judge added that Woodall “went to great lengths to sort the money away in Swiss and other bank accounts.”
The court heard Woodall used his senior position to dupe Westminster council executives into signing off payments destined for his own bank accounts.
He denied fraud by abuse of position but was convicted following a trial last year.
The case had been beset by delays due to Woodall’s myriad of health conditions, including a brain disorder, post-traumatic stress disorder, and amnesia.
He was helped slowly into the dock for the hearing, and visible trembled as the sentenced was handed down.
His barrister, David Kitson, said Woodall cannot remember what happened when he worked for the council as the interim chief investment officer.
“He has lost virtually everything that he had in his life”, Mr Kitson told the court.
“He has clearly lost his good health, and he has lost his family - his wife and children will be moving back to Australia as soon as all their affairs are resolved here.”
Woodall’s wife Tania also faced prosecution as a result of her husband’s fraud, but was found not guilty of money laundering on the direction of the judge.
Westminster Council said after Woodall’s conviction that it has “changed our processes to make them even more robust and kept these under review.
“The fact we were able to pick this up and successfully prosecute is positive and we will now do all that we can to recoup this money through the courts.”
