Theft was a factor in company's collapse

A senior accountant who stole nearly $20 million from retailer Clive Peeters
contributed to the collapse of the company, a court has heard.
Over a two-year period ending in 2009, Sonya Denise Causer withdrew more than $19
million from the company's main operating account and used it to buy 44 properties,
cars and jewellery, the Victorian Supreme Court heard.
Causer also purchased shares in the company.
She stole the money because she found it "easy" to do and was obsessed with dealing
with real estate agents, the court heard on Monday.
In May this year Clive Peeters went into voluntary administration with receivers
appointed shortly after.
Prosecutor Peter Kidd said the thefts were a factor in the collapse.
"The theft was one of a number of factors which contributed to the collapse of Clive
Peeters," he said.
Causer, 39, was a cheque signatory on the company's bank account and one of two
employees able to process electronic funds transactions on the company's behalf.
In 90 payments she transferred $19.365 million to accounts controlled by her.
All but one of the 44 properties and two cars - an Audi and a Holden Club Sport,
have been sold, recovering $16.33 million for Clive Peeters.
The company is seeking a compensation order for a further $3.03 million, money lost
in the costs of buying and selling the properties, such as stamp duty, the court
heard.
Mr Kidd told the court that Causer said in her police record of interview that she
became "obsessed" with buying and selling real estate and it "got out of control".
"As to why she started this offending she said that she discovered how easy it was
to do," he said.
"She said it was never about the money, rather it was about the negotiations and
dealing with the real estate agents."
Causer, of Lilydale, pleaded guilty to 24 counts of theft.
Her barrister, Con Heliotis, QC, said his client had gained nothing from the
offending and would walk out of jail with no assets, no savings and no career.
He said the money she stole was invested which was not the usual case of a person
stealing money and gambling it away at a casino or racetrack.
He said Causer's time in custody would be more onerous than a regular person because
she has two autistic children aged four and five.
Mr Kidd described the offending as a "gross breach of trust" and called for a
sentence of between eight and 11 years with a non-parole period of five to eight
years.
Causer will be sentenced on August 16.
Before its collapse, Clive Peeters, which has its headquarters in Melbourne, was one
of Australia's largest retailers with stores in every state except South Australia.