R v Syed

[2024] NSWDC 501

District Court

New South Wales

• Amendment notes

Medium Neutral Citation:

R v SYED [2024] NSWDC 501

Hearing dates:

18 October 2024

Decision date:

25 October 2024

Jurisdiction:

Criminal

Before:

Noman SC DCJ

Decision:

Aggregate sentence imposed: 4 years and 9 months imprisonment, with a non-parole period of 2 years and 10 months to date from 25 October 2024. Eligibility for release to parole arises on 24 August 2027.

Catchwords:

SENTENCING – Fraud – representative counts - imprisonment – general deterrence – position of trust – reparation payment – limited personal deterrence – plea of guilty – no genuine remorse – hardship to family – aggregate sentence

Legislation Cited:

s.192E(1)(b) Crimes Act1900 (NSW)

Victims Rights and Support Act2013 (NSW)

Cases Cited:

Davies v The Queen (1996) 88 A Crim R 226

Gaffney v R [2009] NSWCCA 160

Hughes v R [2021] NSWCCA 238

Johnston v R [2017] NSWCCA 53

Kareem v R [2022] NSWCCA 188

McLaren v R [2021] NSWCCA 12

Porter v R [2008] NSWCCA 145

R v Curtis [no 3] [2016] NSWSC 866

R v P (1992) 64 A Crim R 381

R v Webb [1971] VR 147

Siganto v The Queen (1998) 194 CLR 656

Siwek v R [2017] NSWCCA 178

Whyte v R [2019] NSWCCA 218

Category:

Sentence

Parties:

Rex;
Mohammed Saderuddin Syed

Representation:

Counsel:
Crown: K McKenzie
Defence: G Scragg

Solicitors:
Crown: M Tracy
Defence: J Giang-Nguyen

File Number(s):

2019/80913

Publication restriction:

s.15A Children (Criminal Proceedings) Act 1987

JUDGMENT

1. Mohammed Syed, the offender, commenced employment as an assistant accountant at the victim company, Crosby Textor Research Strategies Pty Ltd [‘CTRSR’] in 2008. When the offender commenced his employment, the company was classed as a small company with no more than a dozen employees. The offender had bachelor’s degrees in both accounting and IT. The company, which was a subsidiary of the CT Group, a company registered in England, expanded over the years, and had an international presence. Staff were treated like family.

2. The following year, in 2009, the offender was promoted to the position of Financial Controller. With this position, the offender was responsible for the oversight of all financial aspects of the company which included banking, maintaining accounting software and he was an authorised signatory on bank accounts.

3. As well as securing a promotion, the offender’s salary increased periodically, and this was supplemented by the payment of bonuses. His salary increased from $60,000 in 2008 to $185,000 in 2014. The quantum of bonuses is not disclosed.

4. Three years after his initial promotion to Financial Controller, the offender commenced defrauding from the company. He continued this conduct for six years. He did not voluntarily desist. He stopped when his employment ceased. His conduct was only discovered when new staff became involved in the financial aspects of the company.

5. During his employment the offender enhanced his academic qualifications and obtained an MBA.

6. In February 2018, he was promoted to the Financial Controller of the parent company, the CT Group. He continued to steal.

7. When he…