Employee jailed over $1m bank account fraud
By Elizabeth Byrne
Updated June 14, 2013, 2:08 pm
A Canberra man who stole nearly $1 million from his employer has been sentenced to five years jail.
Adi Narayan, 51, from Forde had been a financial controller in his company when he began stealing money to support his gambling habit.
Between 2008 and 2012 he transferred funds into accounts belonging to others who then paid him half the money back in cash.
Narayan eventually pleaded guilty to five charges covering the period.
His lawyers told the ACT Supreme Court he suffers bipolar disorder and had suffered auditory hallucinations throughout the period of offending.
Chief justice Terence Higgins told the court, Narayan had been a trusted employee whose dishonest transactions had caused enormous loss to the company.
Narayan will serve two years in fulltime detention before 18 months of periodic detention and a good behaviour order.
