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Gambling Granny Stole Millions

27 February 2004

AUSTRALIA – As reported by the (Australia) Herald Sun: "A grandmother who stole almost $3 million (US$2.32 million) from her employer was yesterday jailed for at least 4 1/2 years.

"Denise Margaret Racovitis gambled more than $1.8 million at Crown Casino from 1997 to 2003 and lost $409,000.

"…Judge Carolyn Douglas said Racovitis also paid for interstate flights for her family, expensive jewellery and luxury accommodation, and her daughter spent $250,000.

"…The court heard Racovitis used 187 cheques from Michelin Australia to steal more than $2.8 million from November 1998 until February 2003.

"Judge Douglas said that as senior accounts payable clerk, she was trusted and had substantial autonomy…"

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