News

$16 Million Fraud shows it can happen to any one

News >>

$16 Million Fraud shows it can happen to any one

Police have detained a public servant who allegedly embezzled $16 million from Queensland Health.

An intensive manhunt for the 36-year-old, ended on 12 December 2011 early in the morning at 3:30am when he was detained outside a unit in New Farm, Brisbane.He is now in custody and is being questioned by police. We are waiting to hear if charges have been laid.

This morning Queensland Police Minister Neil Roberts said that the case was "one of the most significant fraud cases" in Australian history. He said a "substantial proportion" of the money involved had already been recovered but we do not yet know how much.

Queensland Premier Anna Bligh has called together the CEOs of all government departments to a meeting to discuss the implications of the case. She said action will be taken against anyone who failed in their duty.

"In government departments we have a range of checks and balances and in this case it's clear that some of those checks and balances did not work and have failed," she said.

"I'm having all of that investigated by external forensic auditors and if there are people who have failed in their duty then action will be taken against them."

Ms Bligh says there may be lessons to be learnt for other government agencies.

"That's why I want it investigated ... I want to know if anything failed in the checks and balances that are there in the system.

"We are still having this investigated by the police but if anyone has failed in their duty then action will be taken."

May be a lesson will be learnt for all businesses too, but protection by specific Fidelity Guarantee or Commercial Crime policies are certainly worth considering. 

Last changed: Dec 12 2011 at 9:31 AM

Comments

  1. None Found

Add Comment

Latest News

Finalist in the Insurance Industry Awards

We were pleased to be advised this week that we are a finalist in the Australian Insurance Industry Awards in the category of Most Outstanding Authorised Representative Business for 2019.

Our company very much appreciates the accolade and just being nominated is prestigious to us. The awards ceremony is in August and we will see how we go, but being in the Top 4 is a credit to our team who have worked tremendously hard in the last eight years.

read more

2019 Insurance Brokerage of the Year

CPR Insurance Services are so proud to be awards for the second year in a row, "Australian Insurance Brokerage of the Year (1-5 staff)". To win this award two years running is very much a fantastic achievement and reflects the high standard we have maintained in the last two years.

We very much thank our hard working staff, Ausure Insurance Brokers our licence holder, the Steadfast Group, NIBA and LMI who have supported us with resources and services to meet the demands of our clients.

And of course we thank all our clients for their fantastic support over the eight years of our business, who if not for them, we would not have a business. Thank you.

read more