Wesley Grainger-Smith, 66, was sentenced to two years and four months in prison at Lincoln Crown Court last week.
Grainger-Smith, of Winthorpe, had previously pleaded guilty to five counts of fraudulently removing company property at an earlier hearing.
The Insolvency Service also discovered around £570,000 in cash deposits paid back to the companies, which investigators believe may correlate with Grainger-Smith’s claim that he paid most of the money back through his gambling winnings.
Mark Stephens, Chief Investigator at the Insolvency Service, said: “Wesley Grainger-Smith removed vast sums of money from failing companies to fund his gambling at casinos.
“He cannot have thought he was entitled to recklessly gamble with…
