| Sydney-based CFO stole $10m from company over a decade, police say |
A Sydney-based chief financial officer of a multinational company has been charged with defrauding his employer of more than $10 million in an alleged decade-long scam, police say.
Police will allege in court that the 36-year-old man, from Beaumont Hills in Sydney's north-west, siphoned $10.3 million from his long-term employer into bank accounts he personally controlled between 2004 and 2015.
On average, that would equate to a loss for the company of nearly $1 million a year.
Police have not revealed which multinational company the man worked for, other than to say it was a large company with offices around the world.
The company alerted police about discrepancies in its finances last month, and detectives from the State Crime Command's Fraud and Cybercrime Squad launched an investigation.
On Wednesday morning, detectives arrested the man at Castle Hill Police Station.
He was charged with 25 counts of obtaining benefit by deception, and six counts of dishonestly obtaining financial benefit.
He was granted conditional bail to appear at Parramatta Local Court on January 13.
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