A Sydney man is expected to be charged after he allegedly used false invoices to defraud a media network of more than $8 million.
Detectives investigating the misappropriation of money by a former employee of the media network arrested a 57-year-old man at a Breakfast Point home on Wednesday morning, NSW Police said.
News Corp Australia and Nine newspapers report the man is former Seven Network executive John Fitzgerald.
Detective Acting Superintendent Richard Puffett said the fraud occurred over almost 15 years and involved more than “700 of these invoices and incidents”.
“This has resulted in the funds being siphoned off to a number of bank accounts that have been set up by this individual,” he said.
In 2016, Seven granted an injunction to freeze Mr Fitzgerald’s assets, with the NSW Supreme Court hearing he’d admitted to falsifying invoices from companies he owned and then approving their payment.
In an interview with News Corp in 2018, Mr Fitzgerald said a legitimate book-keeping service was provided “and it didn’t really affect shareholders because the service had to be done”.
-AAP
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