A former financial controller of Famous Pacific Shipping Ltd, who admitted stealing more than $210,000 from the company, has fully repaid the money through a bank cheque deposited into the Judiciary’s trust account.
Magistrate Yogesh Prasad on June 23 convicted Selvan Kumar, 42, of a count of theft committed between August 2018 and May 2024.
According to the summary of facts, Kumar used his position of trust to dishonestly appropriate a total of $210,043.32 belonging to the company.
Investigations began after concerns were raised that company funds were being stolen. An internal review later revealed numerous unauthorised transactions from company accounts.
The court noted that the company had forgiven Kumar and was willing to move on from the matter following full restitution.
Meanwhile, Mr Prasad reminded the company representative present in court that funds would eventually be transferred from the Judiciary trust account to the company’s account once the necessary verification process was completed.
The case has been adjourned to July 24 for a sentencing hearing.
