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ING accountant jailed for $45m fraudBy Margaret Scheikowski, AAP
Updated February 10, 2012, 4:31 pm tweet3
http://www.rushmore-forensic.com.au/accountant-castle-hill/
Rajina Rita Subramaniam appeared to lead a normal, modest life as a trusted accountant, living quietly with her husband in the Sydney suburbs.
But in the space of five years she fleeced her employer of $45 million, often using her lunch breaks to secretly splurge on luxury products including designer wear, perfume and champagne.
The now 42-year-old bought eight apartments for more than $15 million but left seven vacant and didn't charge rent on the eighth.
She spent more than $11 million on jewellery she didn't wear or even remove from the boxes.
And she lavished gifts on shop assistants, including expensive pens, clothing and a payment of $1.3 million to help one worker buy a property.
Subramaniam's double life ended on Friday in the NSW District Court, when Judge Michael Finnane jailed her for at least seven years for defrauding the international financial group ING Holdings.
"Her motivation appears to have been a mixture of revenge, resentment and wanting to be noticed by people who would treat her as important, namely the jewellers and their shop assistants and, perhaps, real estate agents," he said.
Police found 21 boxes stored under or near her work desk.
"When these boxes were searched, police found large quantities of jewellery, fountain pens, champagne, crystal and Michael Jackson memorabilia," the judge said.
He concluded she was not motivated by greed in the normal sense, as she did not use the money to pay off any family debts or live an openly lavish lifestyle.
"The agreed facts demonstrate that she became accepted as a wealthy woman and a very desirable customer of a number of large jewellery firms," the judge said.
At times she would spend millions of dollars in a single lunch hour, leaving many items in the firms' safes, and lavish gifts on the assistants.
"Each of them received commissions for sales to her, and giving presents to them, in my opinion, is consistent with her wanting to be accepted and praised," Judge Finnane said.
"Her gifts of $1.3 million to one shop assistant and something like $240,000 to another shop assistant are consistent with her wanting to be loved and accepted."
When questioned by police, she readily admitted the fraud and said she often had sex at work with one of her superiors.
She said this was part of her ill-treatment by staff that led to resentment towards ING and her wanting revenge.
Her husband, who was unaware of the fraud, gave a statement acknowledging he joined in the sexual activity with his wife and the employee in motel rooms and at their home.
The judge said although the sexual activity with her co-worker may have been abusive in Subramaniam's mind, it appeared to have been consensual.
He accepted that although Subramaniam was not mentally ill, she had various mental disorders that required extensive psychological treatment.
"These disorders stem from her sexual abuse as a child, her feelings of inferiority and passivity, and her inability to set boundaries in her relationships with other persons.
"At one point, one of the shop assistants told her that she did not have to buy everything that they suggested was available."
But he noted the jewellery firms were delighted to be able to make such large sales.
"Indeed, so delighted were they that she was taken to expensive dinners, flown by private jet to Broome and Darwin and treated as a woman of importance."
The judge set a maximum term of 15 years.
Updated February 10, 2012, 4:31 pm tweet3
http://www.rushmore-forensic.com.au/accountant-castle-hill/
Rajina Rita Subramaniam appeared to lead a normal, modest life as a trusted accountant, living quietly with her husband in the Sydney suburbs.
But in the space of five years she fleeced her employer of $45 million, often using her lunch breaks to secretly splurge on luxury products including designer wear, perfume and champagne.
The now 42-year-old bought eight apartments for more than $15 million but left seven vacant and didn't charge rent on the eighth.
She spent more than $11 million on jewellery she didn't wear or even remove from the boxes.
And she lavished gifts on shop assistants, including expensive pens, clothing and a payment of $1.3 million to help one worker buy a property.
Subramaniam's double life ended on Friday in the NSW District Court, when Judge Michael Finnane jailed her for at least seven years for defrauding the international financial group ING Holdings.
"Her motivation appears to have been a mixture of revenge, resentment and wanting to be noticed by people who would treat her as important, namely the jewellers and their shop assistants and, perhaps, real estate agents," he said.
Police found 21 boxes stored under or near her work desk.
"When these boxes were searched, police found large quantities of jewellery, fountain pens, champagne, crystal and Michael Jackson memorabilia," the judge said.
He concluded she was not motivated by greed in the normal sense, as she did not use the money to pay off any family debts or live an openly lavish lifestyle.
"The agreed facts demonstrate that she became accepted as a wealthy woman and a very desirable customer of a number of large jewellery firms," the judge said.
At times she would spend millions of dollars in a single lunch hour, leaving many items in the firms' safes, and lavish gifts on the assistants.
"Each of them received commissions for sales to her, and giving presents to them, in my opinion, is consistent with her wanting to be accepted and praised," Judge Finnane said.
"Her gifts of $1.3 million to one shop assistant and something like $240,000 to another shop assistant are consistent with her wanting to be loved and accepted."
When questioned by police, she readily admitted the fraud and said she often had sex at work with one of her superiors.
She said this was part of her ill-treatment by staff that led to resentment towards ING and her wanting revenge.
Her husband, who was unaware of the fraud, gave a statement acknowledging he joined in the sexual activity with his wife and the employee in motel rooms and at their home.
The judge said although the sexual activity with her co-worker may have been abusive in Subramaniam's mind, it appeared to have been consensual.
He accepted that although Subramaniam was not mentally ill, she had various mental disorders that required extensive psychological treatment.
"These disorders stem from her sexual abuse as a child, her feelings of inferiority and passivity, and her inability to set boundaries in her relationships with other persons.
"At one point, one of the shop assistants told her that she did not have to buy everything that they suggested was available."
But he noted the jewellery firms were delighted to be able to make such large sales.
"Indeed, so delighted were they that she was taken to expensive dinners, flown by private jet to Broome and Darwin and treated as a woman of importance."
The judge set a maximum term of 15 years.
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