Oxford bioscience firm boss, 59, accused of pocketing company funds

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A former biosciences boss will stand trial next year accused of defrauding his firm out of tens of thousands of pounds.

Andrew Chancellor, 59, was chief executive of Natural Bioscience, an Oxford-based medical research company, when he allegedly used company funds for personal expenditure.

Between May 2012 and January 2015, he is accused of defrauding the firm out of more than £100,000, it is understood.

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Prosecutors also claim he fraudulently claimed he put a £16,000 charitable donation by organisation Myositis UK towards personal expenditure. The offence was allegedly committed between May 16 and 31, 2013.

Myositis UK is a charity set up to support those affected by the painful muscle disease. It also funds research into the condition.

Appearing before Oxford Crown Court on Monday morning, Chancellor, of Great Barrington, Gloucestershire, pleaded not guilty to two counts of fraud by false representation.

Judge Michael Gledhill QC fixed the trial for April 17 next year, apologising to the defendant for the nine month delay. “I apologise for it being so long in advance but you know the reasons.”

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The case is expected to last around a week. Chancellor was granted conditional bail. Chancellor, who is now leading another biosciences company, must inform his solicitors in advance if he wishes to leave the country for, for example, business meetings.

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This story was written by Tom Seaward. He joined the team in 2021 as Oxfordshire’s court and crime reporter.  

To get in touch with him email: Tom.Seaward@newsquest.co.uk

Follow him on Twitter: @t_seaward