Indian-origin Sydney woman accountant jailed for 15 years for fraud

SYDNEY: An Indian-origin Sydney accountant who stole 45 million dollars from a majorfinance company and then spent the money on a shopping spree, has been sentenced to 15 years’ jail.

Over the course of five years, Rajina Subramaniam, in her role as a senior accountant with ING Holdings, siphoned the money out of the company’s accounts in the largest case of fraud by one woman in Australian history.

According to the Sydney Morning Herald, Subramanium used the money to buy 600 pieces of jewellery from brands including Tiffany, Tag Heuer, Bulgari and Paspaley, 200 Chanel products including perfume and make-up, designer clothing from Chanel, Hugo Boss and Armani, 60 pieces of Mont Blanc stationery and a 600 dollar bottle of Moet and ChandonDom Perignon champagne.

She also spent 18 million dollars on prestige properties in Bondi, Kiribilli and the Central Business District (CBD).

But in sentencing the 43-year-old in the Downing Centre District Court, Judge Michael Finnane said the items and properties were never used.

Judge Finnane sentenced Subramaniam to a maximum sentence of 15 years, but set the non-parole period at just seven years because of her need for extensive psychological counselling.

He told the court that her grandfather had abused Subramaniam as a child, which had left her with a personality disorder.

Then, some years after joining ING, Subramaniam had become involved in a sexual relationship with a supervisor at the company. Her husband was not only aware of the relationship, but engaged in three-way sexual encounters with his wife and the man.

The judge said that Subramaniam felt this was an “abusive relationship” and it contributed to a powerful sense of resentment towards the company and a desire for revenge.

This, rather than greed, was the major motivation for her crime, he said.

She was also driven by an “overwhelming desire for acceptance and nurturing”, something which she obtained from the “warmth and friendship” of the shopkeepers, whom she showered with gifts and cash, including millions of dollars to spend on property.

Source: Times Of India

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