August 19, 2017

Accountant steals $45 million from employer for luxury binge

Fraudsters - living a life of luxury at someone elses expense. That could also be a description of some politicians.

A Sydney accountant working for financial group ING looks set to plead guilty next week to stealing $45 million which she spent on luxury beachside apartments, jewellery and even Michael Jackson memorabilia.

Rajina Rita Subramaniam, 41, worked as a senior accountant with the financial group ING Australia when she was arrested at Sydney Airport in October 2009 attempting to leave the country allegedly to attend a wedding in Sri Lanka.

It is alleged she siphoned of $45 million from ING accounts into a range of private accounts.

Police allege that when they searched ING’s Kent Street office they uncovered a stash of luxury items, including hundreds of pieces of jewellery, watches, perfume and champagne.

When the fraud unraveled it was found that Ms Subramaniam bought seven prestige properties, including four multimillion-dollar apartments on Bondi Beach’s Campbell Parade, and three in Kirribilli.

At yesterday’s hearing at the Downing Centre Local Court, the magistrate, Carolyn Barkell, was told by the defence and prosecution that a guilty plea was likely to be lodged in the Central Local Court next week.

The court heard that the Department of Public Prosecutions and Ms Subramaniam’s lawyer had been in dispute over seven of the 37 charges she faces.

The alleged crime is one of the biggest single-person frauds in New South Wales history.

According to court documents, ING’s security department began receiving calls in September 2009 questioning their employee’s ability to pay for increasingly large amounts for designer goods.

Newswarped wonders what is it with these people. They live it up for a while, but they are always going to get caught. Is a few years of luxury worth it for jail time and public disgrace?