MELBOURNE, Australia — A decade after, a sacked South-eastern Australian bank worker in the state of Victoria admitted defrauding more than AU$ 1.4 million ($1.06 million) from his employer. He’s about to face justice.

But the significant delay – caused by the Commonwealth Bank waiting more than eight years to report his fraud to police – may mean George Vrettakos escapes jail time.

The Commonwealth Bank knew about his fraud in 2010 and sacked him before managing to claw back nearly half of what he stole, including selling his home.

But charges weren’t laid until the media reported on his scam, and it became subject to a royal commission inquiry.

His illegal activities began in August 2008 when he took out an AU$ 450,000 ($339345) line of credit in a false name using a Doncaster flat as the security.

He then used the credit to purchase the flat as a home for his new wife.

In July 2019, he used the same method to take out an AU$ 1.5…

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