A Statement from the Directors of New Reg Limited

Introduction

In June 2025, former employee Katherine (Katie) Greenall was sentenced to 28 months in prison for defrauding New Reg Limited of over £450,000. This article is our complete, transparent account, not just of what happened, but how, why, and the real consequences for our team, our culture, and public trust.

Media headlines barely scratched the surface. This is the full version, grounded in facts, personal experiences, and our commitment to transparency.

We trusted Katie Greenall profoundly. Her actions starkly illustrate the damage betrayal can cause, financially, culturally, and emotionally.

We share this openly:

• As a caution to businesses.
• To challenge platforms like TikTok for accountability.
• To urge Barclays to reinforce PR with genuine actions.

This was no impulsive theft; it was strategic betrayal, enabled by systematic failures.

Who We Are

New Reg Limited operates Car.co.uk, Garage.co.uk, Trader.co.uk, and NewReg.co.uk, providing trusted vehicle services nationwide. Founded on principles of ethics, inclusion, and community impact, our businesses generate revenue to support rehabilitation for ex-offenders and community-focused initiatives. Our founders are the very same founders that created the Recycling Lives Charity, one of the most successful prisoner rehabilitation programs in the UK.

Our values have always championed honesty and second chances, but what occurred here was calculated deception, not misfortune, it should be told for what is was and not masked by crocodile tears.

We’re recovering, stronger but cautious, and committed to preventing similar occurrences elsewhere.

The Employee We Supported, and the Fraud We Didn’t See

Katie Greenall was our first office hire for our new venture, Car.co.uk. Articulate, warm, and seemingly aligned with our values, we supported her with:

• Generous pay and bonuses exceeding £50,000 annually.
• Flexibility to accommodate her family needs.
• Training, mentoring, and career progression support.
• Personal trust, giving her crucial financial responsibilities.

Behind her carefully maintained facade, Katie spent 15 months systematically defrauding her employer and her friends in the workplace, with hidden fraudulent payments, falsified suppliers, and direct transfers to herself.

Definitive Chronological Timeline

• January 2023: Katie Greenall begins systematically defrauding New Reg Limited.
• January 2024: Fraudulent activities become increasingly sophisticated with bulk payment masking.
• March 2024: Initial suspicions raised internally; irregularities begin surfacing in financial audits.
• 1 May 2024: Katie abruptly withdraws £20,000 cash and leaves the office, claiming a family emergency.
• 7 May 2024: Katie admits guilt during a meeting; employment terminated immediately.
• 8 May 2024: Barclays freezes Katie’s account after repeated insistence.
• 9 May 2024: Police officially take on the case (Crime Reference Number: 24000417091).
• 6 June 2025: Katie is sentenced to 28 months imprisonment.

How the Fraud Was Carried Out

Katie’s methods were sophisticated and prolonged:

1. Fake Invoice Payments: Invented suppliers were paid directly into Katie’s account; genuine supplier payments were delayed with deceit.
2. Payment masking. Multiple small payments: Payments disguised within bulk car-buying transfers, making detection difficult.
3. Payee Name Mismatches: Over 100 transactions under fake payee names, all directed to her personal Barclays account, obvious red flags unaddressed by the bank’s systems.

We’d like to hear from any company that suspects that they are potentially facing similar circumstances.

Please contact us using the following link: https://www.car.co.uk/ukbanks

Sentencing Outcome

On 6 June 2025, Katie received a 28-month sentence:

• The judge started sentencing at 6 years, reduced to 3.5 years for family circumstances, then further reduced for her guilty plea.
• She must serve at least 14 months.

TikTok: A Platform That Profited

Katie disclosed spending stolen money on TikTok’s livestream “gifts”:

• TikTok takes a significant percentage of every gift transaction.
• We believe over £200,000 indirectly profited by TikTok from these fraudulent activities.
• TikTok failed to assist UK police, withholding critical data about the recipients.

Appeal to Social Media Users and TikTok Community

We’re appealing directly to social media users, influencers, and particularly the TikTok community:

• If you suspect you've received gifts funded by Katie’s fraudulent activity between January 2023 and May 2024, or you think you know someone that did benefit, please come forward; anonymously if necessary.
• Encourage influencers and streamers who received suspiciously generous gifts during this period to cooperate; especially those that had tokens or gifts that abruptly stopped in early May 2024.
• Help us put pressure on TikTok for transparency and to return profits derived from criminal activity.

Public awareness and your support can play a crucial role in holding social media platforms to account for mis-management of these highly addictive and incredibly profitable gifting schemes.

A call for Integrity in Social Media

We also call upon honest social media users to question the morality and integrity of influencers who actively solicit tokens and gifts without considering their origin. Influencers benefiting financially without due diligence cast a shadow over genuine, authentic social interactions online, affecting businesses, families, and communities unknowingly harmed by these actions.

If we, as a digital community, start holding influencers accountable for the ethical implications of their earnings, we can collectively protect the integrity and authenticity that social media should represent.

The Real Human Cost

This was no mere financial anomaly, it placed livelihoods in jeopardy and had a profound impact on our people:

• Up to 30 jobs were at risk as the fraud escalated, threatening the future of loyal, hard-working team members.
• Bonuses were lost, directly affecting household incomes and morale.
• Hiring plans were frozen, and new opportunities for employment lost.
• Innovation ground to a halt, as budgets were slashed to plug the financial shortfall.

Beyond the numbers, the emotional toll was immense. Trust within the team was shaken, and anxiety about job security grew. We’ve worked tirelessly since to rebuild a culture rooted in verification, openness, and mutual support but the scars of this betrayal remain a stark reminder of how close we came to a much deeper crisis.

The Barclays Question

Every fraudulent transaction occurred through Barclays.Net, directly from New Reg’s corporate account within Barclays, to Katie’s personal Barclays account. No other bank was involved in the chain:

• Over 100 mismatched payee transactions never triggered Barclays' fraud alarms, leading to no directors or company owners being alerted.
• There were very clear signs of the fraud that Barclays systems missed. We advised them on very simple improvements that will help all their banking customers and to date have been ignored.

While Barclays publicly campaigns against fraud, we believe that their internal failings contributed directly to our losses. The irony of the anti-fraud PR is not lost on us.

Our Recovery & Cultural Reset

We have made substantial internal improvements:

• Payment authorisation processes updated for all payments, including enhanced automated bulk car payment controls. With regular checks to ensure integrity remains.
• Monthly internal audits.
• Real-time reconciliation monitoring.
• Cultural reset towards “trust with verification.”

We are stronger, safer, yet more cautious, mindful of the high cost of misplaced trust.

About New Reg Limited

New Reg Limited operates Car.co.uk, Garage.co.uk, Trader.co.uk, and NewReg.co.uk, championing ethical business, social inclusion, and community empowerment. Founded by Steven Terence Jackson OBE and William T. Fletcher MBE, founders of the Recycling Lives Charity, the UK's leading offender rehabilitation charity.

This account reflects documented facts and informed perspectives from the directors of New Reg Limited. Our goal is not legal accusation but calls for reform, accountability, and responsibility.