The man, whose name is suppressed, admitted in the Gore District Court last week to the 12 charges of obtaining by deception between 2018 and 2021.
The court heard the man worked for a firm in Gore, where one of his jobs was providing accountancy services to the victim’s company, including the paying of accounts.
The police summary said between 2018 and 2021 the man transferred money from the victim’s business account to his own personal account.
The withdrawals were labelled in such a way they mimicked invoices the victim had received from outside companies.
The transfers started with a total of $6915.44 between March 8-May 31, 2018, and continued through to 2021.
The maximum amount taken of the 12 charges, between June and August 2020, was $34,280.16.
The summary said the man transferred a total of $180,092.70 from the victim’s accounts and the firm repaid $5869.26 to the victim.
The court heard during the police investigation it became clear the defendant was using the victim’s and other clients’ accounts to pay off his personal debt.
The funds were also used to fuel his gambling habit, the summary said.
In explanation, the defendant said he had a serious gambling addiction and would make regular transactions from the victim’s account to his personal account to fund this addiction.
The victim’s business had since closed because of his poor physical and mental health, due to the defendant’s offending, the court heard.
The man has a sentencing date in October, when name suppression will be argued.
