A top firm of surveyors, who work with leading bridging lenders, will have to wait until next month to see a finance manager sentenced for “siphoning” a six-figure amount of clients’ cash into his own bank account.

Gavin Sutton, 34, pleaded guilty at Manchester City Magistrates Court to defrauding Matthews and Goodman LLP of £102,160.26p, reported the Bolton News.

Sutton, of Westhougton, was a finance manager at the Manchester-based firm and the court heard how he had dipped into clients’ accounts on 32 occasions between March 2010 and March last year.

In the space of a year, he spent the stolen money on horses and clothes – and is now broke, the court was told.

Prosecutor Helen Veitch said he had covered up the scam by claiming the money was being legitimately paid to a cleaning company.

“This was a huge breach of trust. It was calculated planning to systematically take money from the firm”, she added.

Mrs Veitch said Sutton used his manager’s online login and his password when he finished early or went on holiday.

The thefts came to light after he left the firm, based in Deansgate, Manchester, where he had worked for nearly three years.

Philip Lythgoe, defending, said the offences were committed when Sutton was “bending under the stress and strain of debt”.

“He deeply regrets his actions and has expressed immense remorse,” said Mr Lythgoe.

Matthews and Goodman LLP are an experienced team of strategic property consultants, advising on all types of property and are currently an Affiliate Associate on the Association of Bridging Professionals (AOBP).

Richard Beaumont, Head of Property management for Mathews and Goodman LLP, yesterday said that thankfully there had been no impact on the business through Sutton’s actions.

He added: “As soon as we found out what was going on we reported it to the police who prosecuted him.

“The employee involved is no longer at the firm and that is the main change.

“We trusted him until we discovered what was going on and then we did what we felt was necessary.”

Sutton was granted bail until March 8 when he will appear at Manchester Crown Court for sentence.