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Damien Luscombe pled guilty to making fraudulent transactions from client accounts at the Victorian County Court last week.
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Former accountant pleads guilty to stealing from clients
11 March 2024
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The former partner and manager at accounting firm White Sky pled guilty at the Victorian County Court to 12 charges on Friday.
During 11 years between September 2011 and September 2022, Luscombe allegedly made at least 337 false documents to facilitate 239 fraudulent transactions, as reported by Nine News.
Luscombe altered legitimate invoices or created fake ones, directing payments to his personal bank account. The total fraud amounted to over $2 million.
Accountants Daily reported in October 2022 that Luscombe had been stood down from White Sky over the alleged misuse of client funds.
White Sky is a niche accounting and business management services firm for some of Australia’s top artists including Tame Impala, Amy Shark, Vance Joy, and Peking Duk.
Discrepancies emerged in some of the accounts managed by Luscombe following an internal investigation, with several high-profile clients in the music industry affected.
Victoria Police investigated the matter with the assistance of the financial crime squad.
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A spokesperson for White Sky said the firm was in absolute shock at the uncovered actions.
“We have an incredible team here and we are all united in continuing to support our clients,” the firm stated following earlier reports about the alleged fraud.
“We would like to assure our clients that we are committed to working through this with their interests at heart.”
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