bubble bath nearly went under — after its finance chief conned a bank out of more than £600,000 to cover his incompetence.
Bruce Cox, 62 — a decorated former Army lieutenant colonel — blew a fortune buying six times too much stock for themed products firm Kokomo Ltd. To bring in cash to cover his error, he created fake invoices, which HSBC bank usually paid 80% of upfront before suppliers settled later.tennis championships — told directors he had produced ‘a false invoice or two’ but ‘hoped to get away with it’.
Prosecutor James Bruce said: ‘HSBC could, he hoped, be paid back through the directors or assurance of credit before they realised.’When bank chiefs discovered the con in 2018, they stopped the upfront payment process, the firm’s credit rating sank and two directors had to quit.