Tuesday 26th July 2016 |
Text too small? |
Former Auckland International Airport employee Teremoana Kimiangatau has pleaded guilty to charges of defrauding the airport out of about $1.8 million.
Kimiangatau (53) appeared in the Auckland District Court today on three Crimes Act charges laid by the Serious Fraud Office relating to 'obtaining by deception'. She transferred funds from the airport's bank account to her own account after changing client bank account numbers to her own within the airport's accounting system.
In a statement to the NZX, the Airport welcomed the guilty plea. It has also launched civil proceedings against Kimiangatau. Chief financial officer Philip Neutze said they had conducted an extensive examination of their systems: "We have completed a thorough review of our internal processes and controls, and changes have been made to protect the company, its staff, and its investors."
The case is the third this year involving fraud conducted by employees of large listed companies. Employees of Sky City and Mighty River Power also faced court action earlier this year over claims they misappropriated millions of dollars of their employers' money.
SFO director Julie Read said companies need to have checks and balances in place to reduce the risk of this type of offending.
"Most importantly, those checks need to be taken seriously as opposed to treating them as nothing more than a box-ticking exercise. Mrs Kimiangatau's responsibilities allowed her to pass invoices for authorisation many times and make changes to client information without being challenged," she said.
Auckland International Airport referred the matter to the SFO in February this year after sacking the employee and calling in the police.
Kimiangatau will next appear in the court on Nov. 9 for sentencing.
BusinessDesk.co.nz
No comments yet
GEN - Completion of Purchase of Premium Funding Business
Fletcher Building Announces Executive Appointment
WCO - Director independence determination
AIA - welcomes Ngahuia Leighton as 'Future Director'
Mercury announces Executive team changes
Fonterra launches Retail Bond Offer
October 29th Morning Report
BIF adds Zincovery to its investment portfolio
General Capital Resignation of Director
General Capital subsidiary General Finance update