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Director arrested for alleged fraud against NAB

The director of a corporate event management firm has been arrested for alleged fraud against NAB, after a year-long investigation by NSW Police’s Financial Crimes Squad.

NSW Police arrested Human Group director, Helen Rosamond, at approximately 9am Friday (1 March) for her alleged involvement in fraudulent activities against National Australia Bank, which the major bank confirmed was reported by a whistleblower.

The 43-year-old director was charged at Kings Cross Police Station with 56 counts of bribery, one count of obtained benefit by deception, and one count of attempted fraud.

The police said her actions resulted in more than $40 million in corrupt commissions being paid to Human Group, a former supplier to NAB, including $6.6 million in personal expenses to ensure contract continuation.

The breaches reportedly took place between 2013 and 2017. However, Human Group’s relationship with NAB dates back 12 years and involves $118 million in contracts.

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“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,” the major bank said in a statement.

“The alleged 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.”

The major bank would not make further comments as the matter is in the court’s hands.

In February 2018, detectives from NSW Police's Financial Crimes Squad established Strike Force Napthali to investigate allegations of corrupt commissions being paid to Human Group for contracts with NAB.

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Napthali investigators entered Human Group’s North Sydney office, as well as other properties in Milson’s Point and Potts Point, where they seized “large amounts of documents and electronic storage devices”, which underwent “significant analysis” by specialist forensic accountants.  

Acting Assistant Commissioner Stuart Smith said: “Investigators executed 20 search warrants, we served 10 production notices, and we put restraining orders on around about $10 million worth of property and assets.

“We‘ve carried out enquiries both here in NSW and in Victoria, and I obviously won't rule out further charges or further arrests.”

Ms Rosamond was refused bail on Friday. 

More to come.

[Related: Action on introducer loan fraud taken ‘far too late’: ASIC]

Director arrested for alleged fraud against NAB
Australian court
mortgagebusiness

Tas Bindi

Tas Bindi is the features editor on the mortgage titles and writes about the mortgage industry, macroeconomics, fintech, financial regulation, and market trends.  

Prior to joining Momentum Media, Tas wrote for business and technology titles such as ZDNet, TechRepublic, Startup Daily, and Dynamic Business. 

You can email Tas on: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

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