A former Pembroke financial official has pleaded guilty to defrauding the college of close to £300,000.

Jacqueline Balaam, the accountant in question, was suspended by the University of Cambridge in January and has since been dismissed amidst allegations that she falsified invoices in order to finance her alleged online gambling habit.

The fraudulent activities took place over the course of one and a half years between June 2012 and January 2014, when the crime was discovered.

The 41 year-old also faces similar charges from the Girton Social Club north of Cambridge. A Cambridgeshire Police spokeswoman said after Balaam's arrest in November 2014 that she was suspected to have stolen £3,198.00 from Girton Social Club.

Delia Matthews, one of the prosecutors, summarised Balaam’s criminal activities as follows:

“She [Balaam] was employed by Pembroke College and the charges are in relation to her role as a treasurer. There are huge sums of money taken from Pembroke College which is all down to her gambling addiction.”

Balaam has now admitted to defrauding Pembroke College and has pleaded guilty to a further charge of false accounting due to her production of false financial statements supposedly from Stafford Charters Accounts.

Judge Jonathan Hayworth granted Balaam bail after her plea and asked her to return to court on March 16 for sentencing. Mark Shelley, the mitigator between Balaam and the court, called for such early notice of the sentencing date in order to make provision for two young children. 

Shelley stated: “If it comes at short notice, then it’s going to be difficult. She’s realistic about what’s going to happen to her.”

Fraud by abuse of position carries a maximum penalty of ten years. 

An official Pembroke spokesperson released the following statement on behalf of the college:

“Now that the circumstances are not in dispute, we would like to express our regret and sadness about this incident, which had miserable human consequences.

“The College's losses were significantly covered by insurance and we are vigorously pursuing the recovery of the remaining losses. 

“After an external review, changes have been implemented to our accounting processes so as to prevent such an eventuality occurring again.”

When allegations against Balaam first appeared in November of last year, public focus was drawn to the fact that the alleged thefts escaped the notice of the current Master of Pembroke College, Sir Richard Dearlove, who is the former Chief of MI6. He has been Master of the college since 2004.

The Pembroke JPC President offered no comment on the current trial, but told Varsity that the student body had been made aware of proceedings by the College "soon after they started".