Took $45 million over five yearsAbused by grandfatherThreesome with supervisor and husbandSpent millions in lunch hour
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A Sydney accountant who stole $45 million from a major finance company then went 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.
She then embarked on a shopping spree which included 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 bottle of Moet & Chandon Dom Perignon champagne.
She also spent $18 million on prestige properties in Bondi, Kiribilli and the 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 Subramaniam had been abused by her grandfather 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.
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.
Judge Finnane said that, outwardly, Subramaniam was leading a normal life with her husband in a modest house in Castle Hill.
She did not use any of the stolen money to pay off her mortgage or her various other debts.
However, when police went to her workplace after being tipped off by ING, they found 21 boxes stored under her desk and in nearby workstations.
"Much of the jewellery was still in boxes that had not been opened," he said.
''She became accepted as a wealthy woman and a very desirable customer of a number of large jewellery firms."
She would spend millions of dollars in a single lunch hour, gaining much needed positive affirmation from the shopkeepers whom she saw as friends and who saw her as extremely wealthy and extremely generous.
''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.
