David Drage, 57, was found dead in his car in Gatwick Airport on February 22nd, a day before he was due to meet with auditors and his employers to discuss the missing money.
The inquest in Horsham, West Sussex, heard that Mr Drage had amassed debts of £42,000 through high interest loans and credit cards. In an attempt to clear the debt he was committed to monthly repayments of £1,600.
Mr Drage’s wife told the inquest that she and her husband had spoken to a broker about remortgaging their home.
However, she claimed to have been unaware of the extent of the debts, saying that her husband had always been “evasive” about his finances.
Chartered accountant William Abbott, who was responsible for auditing the accounts of The Michael Hall School in Forest Row, East Sussex, said that there was “strong evidence” that Mr Drage had taken the missing £28,000.
He said: “I prepared a report to the board of trustees on the advice of CID. I came to the conclusion that there was around £28,000 that we could clearly identify had not been correctly accounted for,” the Daily Mail reports.
The coroner recorded a verdict of suicide.