A COMPANY boss who stole more than £120,000 from his firm has been jailed.

Managing director David Forsyth, 42, took the money from SPC Ltd, which was trading under the name of Dekura and was a member of the Epuin group, in Peterlee.

Financial controller Andrew Thompson, 37, also admitted stealing from the firm and aiding and abetting Forsyth to steal and was also jailed.

Newcastle Crown Court heard how Forsyth, who was struggling with his finances due to his divorce, took £121,000 from the firm using the company credit card, the BAKS system and even transferred funds from the company to use as a deposit for his new house.

The pair also set up a separate company together called Green Freight which was to provide transport to Dakura. Despite stopping providing the tranport in May 2001, they still invoiced Dekura and were paid £27,166.

Forsyth had paid back £125,000 and Thompson paid back £50,000.

Defence barristers Andrew Stubbs, for Forsyth, and Neil Hawes, for Thompson, urged Judge Guy Whitburn to accept the view that the cases of both men were "exceptional".

But the judge said only immediate prison sentences were appropriate in both cases.

The pair were initially charged with conspiracy to defraud and conspiracy to steal but the allegations were dropped after the guilty pleas to the theft charges were accepted by the prosecution.

Forsyth, of Sheffield Road, Hachenthorpe, Sheffield, was jailed for 21 months and Thompson, of Grange Park Avenue, Fulwell, Sunderland, for nine months.