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Former Chief Financial Officer Faces Jail Time over $400k Fraud Due to Gambling Addiction

On Friday, a former Chief Officer at Canberra’s Police & Community Youth Club (PCYC) was found guilty of larceny. The woman, whose identity remained undisclosed, has been arrested by the local police. She has been sentenced to 3 years behind bars. Apart from that, the woman is ordered to pay back more than $400,000 to the non-profit organization that she duped during her crimes. The Judge stated the woman has gambling-related problems which are most likely the reason for her crime.

Former Chief Officer at the Canberra’s non-profit organization PCYC is to spend the next 3 years in jail after she pleaded guilty to four counts of obtaining property by deception and one of theft. The case took place in the ACT Supreme Court on 27th October.

Justice Michael Elkaim ordered that the woman is to repay the money, which she stole. The investigation into the accused Chief Officer’s behavior found out that she suffered gambling addictions, which is considered to be the main reason for the theft. The order imposed that the offender is to have her sentence suspended after 15 months. The woman is set to be released in January 2019. Afterwards, she would be subject to a good behavior order for the rest of the term. The Justice also ruled out that the woman is to attend a special organization to fight her gambling addiction once she is released from custody.

Unlawful Get-Rich-Quick Scheme Revealed

The woman, who is in her 40s, joined Canberra’s PCYC team for the first time in 2011. She started to work as an assistant to the chief executive officer. A year later, she was appointed as the Chief Financial Officer. Here it is important to note that in the judgment, Justice Elkaim stated that the woman lacked the needed qualification for the new position. Apart from that, the woman was not prone to obtain the needed qualification.

Following the new appointment, the woman was responsible for managing the accounts held by the club. The investigation found out that the woman electronically transferred money from the accounts held by the club to her own bank account or to that of her husband. The woman reportedly deposited cheques into her own bank accounts and used an ATM to withdraw cash from the PCYC account. The largest sum, which she withdrew was reported to be $1000. An investigation into the club’s accounts started in 2015, when it was found out that there are some suspended and canceled accounts and overdue reminders.

The Judge announced that the woman’s sentence reflects also a breach of trust. Even though many may consider the woman’s sentence as lenient for a high-profile employee, the Judge said that he took into consideration the fact that the woman had a hard childhood as she was neglected and her stepfather abused her.