Woman accused of fraud against NAB arrested in Sydney
Updated
Police in Sydney have arrested a woman as part of an ongoing investigation into a multi-million dollar fraud against the National Australia Bank (NAB).
Key points:
- Police arrested Helen Rosamond as part of an investigation into allegations of corrupt commissions at NAB
- Authorities said the commissions were valued at about $40 million over five years
- The alleged fraud was reported by a whistle blower but no-one at the bank was under investigation, NAB said
In February 2018, detectives from NSW Police’s Financial Crimes Squad established Strike Force Napthali to investigate allegations of corrupt commissions being paid for contracts with the bank.
Police claim those commissions were valued at about $40 million over a five-year period.
The woman arrested is Helen Rosamond, a director of events management company Human Group — a former supplier to NAB.
Ms Rosamond will be charged with 56 counts of bribing an agent and two counts of gaining benefit by deception amounting to $6 million, police have confirmed.
She was arrested at a home at Potts Point this morning and has been taken to Kings Cross Police Station for questioning.
The relationship between the bank and the company goes back 12 years, but police allege the offending took place between 2013 and 2017.
‘NAB is the victim’
Acting Assistant Commissioner Stuart Smith would not rule out further arrests, and said it was the first time he had seen senior executives involved in a fraud.
“We will allege there are very senior positions involved,” he said.
“There are those in charge of carrying out business with integrity and it is very clear this hasn’t occurred in this investigation.
“The involvement of CEOS and senior executives is something we haven’t seen before.”
A spokesman for NAB said no one at the bank was under investigation, including former CEO Andrew Thorburn, who resigned in the wake of the banking royal commission.
“The alleged fraud was reported by a whistle blower. NAB responded immediately, investigated and reported it to police,” the statement said.
“If the alleged fraud is proven, it represents a most serious breach of trust by a former employee.
“We continue to cooperate fully with police and we thank them for their important and work in investigating this matter.
“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.
“While this remains before the court it is not appropriate for us to comment further.”
No end date for investigation
Mr Smith said forensic accountants had spent “thousands of hours” investigating the fraud and that $10 million dollars’ worth of material had been seized.
“We seized a warehouse for documents and electronic documents and hard drives and systems, and we are forensically working our way through,” he said.
“There’s been a lot of benefit by these individuals and we’ve done restraining orders on over $10 million worth of property.
“We’ve been at this for 12 months and we have begun the resolution phase, but I can’t put an end date on the investigation.”
A large number of documents were seized along with electronic storage devices at three Sydney businesses by detectives in April last year in relation to the investigation.
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