Yahoo Finance Police arrest woman in $40 million NAB fraud case
New South Wales police have arrested a Sydney woman for an alleged $40 million fraud involving a “most serious breach of trust”.
Director of events management company and former NAB supplier Human Group, Helen Rosamond, was arrested at her home in Potts Point today before being taken to Kings Cross Police Station where she faced charges of 56 counts of bribery.
Her arrest follows a NSW Police Financial Crimes Squad investigation into claims of suspicious commissions at NAB being paid for contracts with the big four bank.
The investigators had heard of a scheme where individuals at NAB received corrupt commissions to authorise over-inflated invoice payments to contractors.
The police claim the commissions were worth around $40 million over a five-year-period between 2013 and 2017.
Detectives raided three Sydney businesses in Potts Point, Milsons Point and North Sydney last year as they investigated the alleged corporate fraud.
The arrest is part of the same investigation that saw former NAB CEO Andrew Thorburn’s chief-of-staff Rosemary Rogers undergo scrutiny last year.
Rogers has not been arrested or charged, but investigators froze her assets last month, including her $6.2 million property portfolio.
NAB responds
A NAB spokesperson confirmed the arrest today, saying the fraud was reported by a whistleblower.
“NAB responded immediately, investigated and reported it to police.
“If the alleged fraud is proven, it represents a most serious breach of trust by a former employee.”
NAB said it thanked the NSW police for its investigation and added that the bank will be unable to comment further as it is before the court.
“NAB is the victim in this matter. Police have confirmed that no one at NAB is under investigation, including former CEO Andrew Thorburn, and there is no suggestion of any wrongdoing by anyone at NAB.”
NAB and Human group have had a business relationship for 12 years, with total contracts worth up to $118 million.
Speaking to reporters today, acting assistant commissioner Stuart Smith said he can’t rule out further arrests.
Responding to questions on the sheer size of the fraud, Smith added that the involvement of senior executives is “something we haven’t seen before”.
Rosamond is expected to appear in Sydney’s Central Local Court today.
– With AAP.
Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.
Now read: Women CEOs will have to wait another 80 years for parity with men
Now read: Pete Evans in hot water over alkaline drink
Now read: This is the biggest workplace challenge Australia faces – and it’s not robots
