Riccardo Nardi, former head of legal at the Association of British Travel Agents (ABTA), has this month pleaded guilty to 24 deception charges amounting to almost £1 million.

Mr Nardi was sacked from ABTA last year when the fraud was discovered.


He is said to have amassed the funds over seven years by setting up two companies and claiming that they were owed money by ABTA members.


In Middlesex Guildhall Crown Court, judge Derek Inman said prison was 'inevitable' for the offence, which involved a 'breach of trust'. Mr Nardi's barrister, Charles Ward-Jackson, said his client was 'prepared to start his sentence today.'


The offences date back to a first charge of dishonestly obtaining a cheque for £6,820 in January 1995, to the last for £96,246 in December 2002. The single largest cheque was for £176,220 in November 2002.


Mr Nardi's wife, Samantha Nardi, has pleaded not guilty to eight counts relating to the fraud. Her hearing is scheduled for next month, when Mr Nardi will be sentenced.


Stephen Smith, assistant solicitor at London firm Peters & Peters, who is acting for Ms Nardi, said his client was unable to comment at this stage. Mr Nardi's solicitor Carol Kehoe, assistant solicitor at Fisher Meredith, did not provide a comment. An ABTA spokesman also declined to comment.


Simon Bunce replaced Mr Nardi as head of legal at ABTA last year.