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18 December 2018, 15:18 | Updated: 18 December 2018, 15:29
An accountant from Essex has admitted defrauding almost £600,000 from a company set up by X Factor winner James Arthur.
Mark Livermore, 39, from Billericay, transferred money from the firm into other bank accounts without permission.
Prosecutor Misba Majid said Livermore drained the company of a total of £599,000 before his fraud was uncovered in April of this year.
The defendant pleaded guilty to one count of fraud by abuse of position on or before April 2018 when he appeared in court on Tuesday.
Chairwoman of the bench Diane Lennan said: "The matter is so serious because it is an abuse of position over a substantial period of time."
He's been bailed until sentencing on a date to be fixed.