Exposed:Thief Who Made Millions For Clive Peeters

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The woman at the centre of the alleged Clive Peeters multimillion dollar payroll theft is Sonia Denise Causer who appears to have made more money using stolen Clive Peeters funds than Clive Peeters have made profits during the past two years.

The woman at the centre of the alleged Clive Peeters multimillion dollar payroll theft is Sonia Denise Causer who appears to have made more money using stolen Clive Peeters funds than Clive Peeters have made profits during the past two years.
As news leaks out about the theft of millions from struggling retailer Clive Peeters, it appears that the woman who was the Companies Payroll Manager, was able to successfully transfer over $7M in funds to a variety of accounts.

She then purchased properties in her name and those of others that are today, according to Victorian Supreme Court documents worth close to $20 million dollars which is more than the profits that Clive Peeters has made in two years.

In a rushed application which was lodged on the 5th of August before Justice Jennifer Davies in the Supreme Court Clive Peeters were granted a Court order freezing the bank accounts of Sonia Causer.

Causer also agreed to transfer the property she had purchased to Clive Peeters ownership.

In a statement issued earlier today, the retailer who has struggled due to a lack of cash flow during the past 24 months that the thefts of cash was taking place, via fictitious employees registered on the payroll , that $19.9m had been purchased by the staff member or related parties substantially using monies taken from Clive Peeters.

What is not known is how KPMG and Clive Peeters failed to detect the theft. Nine months ago Clive Peeters called in KPMG to prepare an extensive report on the Company. Nowhere in that report is there any mention of discrepancies.

Also puzzling is how Clive Peeters auditors also failed to detect the theft of $7M which had been systematically removed from the Company using bank accounts and “fake” employee records according to sources at the Company.

 

Earlier today Clive Peeters CEO Greg Smith refused to confirm whether the Victorian Police Fraud Squad was investigating the matter with some insiders suggesting that a deal was done between Sonia Causer and Clive Peeters whereby the retailer would benefit from the $20M worth of property being transferred to their ownership.

A leading vendor who does business with Clive Peeters said “If I was Clive Peeters I would be suing my external accountants and auditors. This is what they are there for. Surely extra employees should have been picked up”.
Earlier this month the Company was forced to  inform the Australian Securities Exchange (ASX) that based on limited investigations, it was likely to increase its operating loss for the financial year ending June 30 to between $11 million and $12 million on a pre tax basis, compared to a forecast operating loss of $4.5 million to $5 million on a pre tax basis announced on July 1.

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