Former 7 Exec Arrested Over $8m Fraud
A former Seven West Media executive has been arrested for allegedly defrauding the company of more than $8 million.
John Fitzgerald was arrested at around 8am this morning at his home in Sydney’s Inner West according to the Sydney Morning Herald.
It’s alleged that in 2016, Mr Fitzgerald was controlling the company’s finances and television programming, with a budget worth hundreds of millions.
During this time Mr Fitzgerald allegedly created, approved and paid false invoices to companies owned and controlled by him.
An internal investigation began after an audit detected suspicious transactions.
The investigation was then referred to police, whose own lengthy investigation culminated in Mr Fitzgerald’s arrest this morning.
Seven West Media was granted a court order in April 2016 freezing millions in shares and assets owned by Mr Fitzgerald, which was rescinded last year when the pair reached a settlement.
He’s expected to be charged today.