Home > Industry > ICAC Claims Corrupt Technology CFO Embezzled $5 Million

ICAC Claims Corrupt Technology CFO Embezzled $5 Million

At lease five IT companies have been caught up in a corruption probe of a former City of Botany Bay Council chief financial officer, who allegedly embezzled more than $5 million via bogus invoices.

The NSW Independent Commission against Corruption (ICAC) has claimed in a report that former CFO Gary Goodman engaged in serious corrupt conduct involving more than $5 million in false or inflated invoices and by incurring more than $620,000 of personal expenditure on corporate credit cards.

Companies unwittingly involved in the alleged fraud include CND Computers – no relation to CDN – which found false invoices had been created on its stationary totalling more than $2 million between October 2007 and June 2011. Goodman allegedly authorised the false invoices and arranged for the payments to be paid into his bank accounts.

“He put his own bank account details on the invoices so that payments made by the council would be made directly into his bank account,” ICAC said in its report. “He authorised council payment of the invoices.”

Another company drawn into the corruption charges was Computer Intersection, whose founder Keith Mark had known Goodman for decades.

Between 1997 and 2005, ICAC alleges Mark and Goodman created bogus Computer Intersection invoices for work that had not been done. The commission also found that a number of other workers engaged in serious corrupt conduct by creating, or being a party to, agreements to create false invoices.

The report recommends that the Director of Public Prosecutions consider laying charges against a total of 10 people, including Goodman, seven council employees and an external construction businessman.



You may also like
OPINION: Gladys Berejiklian Found Guilty But Who Gives A Stuff, Some Say She’s PM Material
ICAC Finds “Corrupt Conduct” Against Berejiklian
Gladys Berejiklian Breaks Silence To Slam Telstra-TPG Deal
Aus Retail Spending Rebounds Faster Than Expected
NSW Retail Reopening “Great Test-Case For Victoria”