Dutch financial services group ING suffered a A$30 million loss after being defrauded by a Sydney accountant who went on a wild shopping spree, the Sydney Morning Herald reports.

The woman was jailed for seven years last week following the long-running fraud. However, files released after the woman was sentences show ING has only been able to recover around one third of the A$45m she actually stole.
Much of the money was spent on eight waterfront apartments and over A$16m in jewellery.
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