Account Demetres Kyriacos Zacharoudes has been jailed for stealing over $1 million from his employer.
The Adelaide District Court sentenced Zacharoudes to two years and three months imprisonment, with a one year non-parole term, after he pleaded guilty on five of twenty-seven charges of deception.
Zacharoudes, who was responsible for reconciling payments made on motor charge cards to determine reimbursement, falsified reports and siphoned a total of $1,024,144.76 from employer EPAC Salary Solutions.
The National Australia Bank noticed that money was being redirected into the accountant’s personal account and another in the name of his parents, who acted as trustees.
The defence argued that Zacharoudes was under a great deal of stress, working up to 50 hours per week. They went on to say that the theft was not motivated by greed; initially, it was the result of an innocent mistake that continued as he felt undervalued.
However, the court did not agree.
“Given your financial acumen, I find that to be an unconvincing argument,” Judge Smith said.
The crimes were described as devious, cunning and gravely serious, and would not be considered as sudden or isolated acts.
Despite Zacharoudes personal health problems and his mother’s dependence on him due to ill-health, the judge was adamant on the penalty of imprisonment.
Source: ABC
