Peter Nicholson, 60, of Lytham St Annes, worked as head of sales at a specialist seller of photocopier and printer services, to schools and local businesses using lease agreements. But when sales figures started to fall at Tandem Solutions Group (TSG) Limited, Nicholson devised a scheme to maintain sales by manipulating contracts and lowering print agreements.

The schools dragged into the scheme suffered a financial loss of £764,000, after being undersupplied services and being persuaded to sign misleading agreements.

At sentencing at Nottingham Crown Court, Nicholson was jailed for five years after pleading guilty to 21 counts of fraud by false representation, and a further two months for acting as a company director when he was a bankrupt. His former colleagues, who he involved in the fraud, were given suspended sentences.