Legal action has been taken against King Country accounts clerk Sharon Bradley in an attempt to recover $2.4 million stolen from farming client Eight Mile Farms.
Te Kuiti-based Eight Mile Farms Ltd used local accounting firms for back office accounting services. Having moved through various firms as a trusted employee while local accounting practices merged, Bradley perpetrated a long running fraud stealing more than two million dollars from Eight Mile Farms over a twelve year period ending 2018. She stole money by creating false invoices actioned with payment out of Eight Mile Farms’ Rabobank account into accounts she controlled at Kiwibank, ANZ and Westpac. The fraud was discovered by accident one year after she left her job. Bradley had not deleted a false payment template in the accounting firm’s database. An Eight Mile supplier queried why payment had not been made on a genuine invoice; payment had been made but was diverted by the false template into Bradley’s bank account.
In July 2020, the High Court ordered Bradley pay just over two million dollars to Eight Mile Farms for deceit and breach of fiduciary duty. The court left open further action where it could be proved specific assets were purchased with the stolen money. A court-appointed investigator identified about $2.4 million had been stolen from Eight Mile Farms. He traced some of the money directly into purchases of a lawnmower, a ride-on mower and specific electronic equipment. In August 2021, the High Court ordered these items be handed over. The court was told money was also traced into her family trust. The balance had been used for family living and lifestyle expenses. Real estate owned by Bradley is currently frozen by High Court order.
Eight Mile Farms Ltd v. Bradley – High Court (9.08.21)
21.134