A Sydney woman has been sentenced to a maximum of 15 years in prison after being convicted of embezzling of millions of dollars from national Australia Bank (NAB).
Last year, a jury found Helen Mary Rosamond guilty of 90 charges including multiple accounts of corruptly giving a benefit, dishonestly obtaining a financial advantage by deception, and two counts of attempting to obtain a financial advantage.
Rosamond, who will be eligible for parole in 2030, was accused in court of falsifying and inflating invoices from her event management company, Human Group, which were approved by her accomplice Rosemary Rogers, the chief of staff to the major bank’s chief executive, according to ABC News.
The court heard the total loss to NAB was estimated to be up to $9 million, which occurred between 2013 and 2017.
Judge Robert Sutherland found each woman equally guilty and depended on each other to commit the acts.
“The relationship between these two co-offenders was clearly symbiotic,” Sutherland said in sentencing, ABC News reported.
Sutherland revealed a string of lavish expenses funded by the deception during sentencing, including luxury holidays, business class flights, helicopter transfers, and limousines for Rogers and her relatives.
In 2013, a 50th birthday party for 13 people, including Rogers, cost nearly $70,000, covering a four-night hotel stay, business class flights, and a private boat on Sydney Harbour.
During the same year, Rogers and six others spent almost $160,000 on a European holiday, which included stays at high-end hotels and business class flights.
In September 2013, Rogers complained of cash flow issues, prompting Rosamond to provide $350,000 in bank cheques, ABC News reported.
In early 2014, Rogers organised the purchase of a $46,000 boat. During that year, Rosamond and her husband acquired their own inflatable boat for $12,000 to use as a tender.
In mid-2014, eight individuals, including Rogers, embarked on an “extensive holiday” spanning three weeks to New York, Washington, and Miami, resulting in expenses exceeding $620,000.
Additionally, Rogers received prepaid Mastercards for personal use, including two cards worth $96,400 in 2014, provided by Rosamond.
Currently, Rogers is serving an eight-year jail sentence for her involvement in the crime.
Sharon Cook, NAB group executive, legal and commercial services, said the bank “acknowledges its prior failures in not having sufficient controls and processes”, according to ABC News.
“After we became aware of the fraud, we overhauled our controls and processes, including reducing expense delegations and introducing additional checks on expenses,” Cook said.
“The issue was first reported to us by a whistleblower and NAB thanks them for coming forward and alerting us to the fraud.”