A chartered accountant and former executive with the television company behind The X Factor and American Idol has been jailed for three years and four months for defrauding his former bosses of over £224,000 to pay off two holiday homes in Portugal.

Ian Ousey, 51, who lives in a £1.9m detached six-bedroom house in Ascot was the chief financial officer (CFO) of FremantleMedia Group (FMG), which also produces Take Me Out and Grand Designs. The father-of-two left the company in March and paid back the money as part of a £1.4m legal settlement, which included his former employer’s expenses.

It is said large amounts were paid to a holiday home developer in Portugal and to cover credit cards, vehicles, mobile phones, courier payments and all-expenses trips to Brazil and Australia.