Gambling grandma blows stolen $3m

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Another Day, Another Dollar
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A GRANDMOTHER who stole almost $3 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.
But she also made extravagant purchases for herself and her family, despite living in modest rented accommodation and having little equity in a "very modest" Rye home.

The County Court heard Racovitis, 58, spent $14,000 on a holiday at the Versace Hotel in Surfers Paradise, shouted dinners worth $1800 and showered her grandchildren with gifts.

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

"You had been a problem gambler since at least the 1980s, and there had been a repeated pattern of stealing from employers to pay for your gambling," Judge Douglas told her.

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

The judge said the money was gambled through Tattslotto and elsewhere, but her main venue was Crown, where she was a Crown Club VIP member.

Racovitis was allowed into the Mahogany Room and had a loyalty card.

Racovitis, who pleaded guilty to 11 counts of theft, has more than 560 convictions for dishonesty and has stolen from at least three other employers.

Forensic psychiatrist Dr Lester Walton diagnosed Racovitis as suffering from chronic depression, but said her psychotic illness did not mean that she couldn't tell she was doing the wrong thing.

Racovitis was jailed for 7 1/2 years and must serve 4 1/2 years before being eligible for parole.


http://www.heraldsun.news.com.au
 

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