'There was disregard for the trust that had been placed in her by her employer'
A former National Australia Bank (NAB) employee has been sentenced to three years in prison for her role in a $21-million fraud scheme, according to reports.
Monika Singh, who was a senior associate at the bank's Sydney branch, was convicted of nine fraud-related offences, ABC News reported.
Singh conspired with two others — former mortgage broker Davendar Deo and IT consultant Srinivas Naidu Chamakuri — to create fake vouchers in an attempt to steal millions from the bank.
Singh and Chamakuri also used fraudulent bank guarantees to purchase property and earn commissions.
In sentencing Singh, Justice Donna Woodburne described the breach of trust in her actions.
"There was disregard for the trust that had been placed in her by her employer to engage in fraudulent offending by her and her co-offenders," Woodburne said as quoted by ABC News.
Singh's sentence was impacted by the need to consider her personal circumstances, including the effect on her young daughter, who would have to live with extended family in the United States if she served jail time.
Meanwhile, Deo and Chamakuri also received sentences. Deo was given two and a half years, while Chamakuri received a three-year sentence.
Woodburne criticised Deo's claim that he believed he was "helping a friend" by sharing confidential financial details, ABC News reported.
"I do not accept that, as a licensed mortgage broker, he did not understand that obtaining and passing on his clients' financial details was a breach of trust and constituted criminal conduct," Woodburne stated.
The court has allowed all three to walk free while reports are prepared to assess whether they will serve their sentences under home detention instead of in jail. The suitability of this option will be reviewed in court on March 21.