An accountant accused of stealing $20 million from ASX-listed retailer, Clive Peeters (ASX:CPR), has plead guilty to 24 counts of theft in the Victorian Supreme Court, according to an ABC report.
In August 2009, the retailer’s former senior accountant, Sonya Causer, was accused of falsifying payroll entries and transferring cash to her personal bank accounts to buy and sell real estate.
The incident was a catalyst for collapse at Clive Peeters, which then went on to suffer significant problems before being placed into administration and subsequently bought out by rival retailer, Harvey Norman.
According to the ABC article, the company has managed to recoup $16 million from the sale of Causer’s assets.
She claimed to have begun stealing because of the pressures of looking after two autistic children and always thought she would make enough money to pay her employer back.
Causer was accused of purchasing 44 properties, luxury cars and $17,000 worth of jewellery over an 18-month period.