Former Minters CFO gets 10 years in jail
27 July 2012
Minter Ellisons' former CFO, who relieved the firm's partnership accounts of almost $2.7m, has been sentenced to 10 years in jail after pleading guilty to 70 counts of theft.
Craig Raneberg stole the money over a seven year period between 2004 and 2011, before finally being uncovered by Minters. He then fled to Thailand but was arrested by police in October last year when, oddly, he returned to Australia to renew his visa. Raneberg admitted to the thefts the police knew about, and to several more which they did not.
Through his lawyer in the South Australian District Court last month, Raneberg explained that he had frittered away the money
on "exclusive accommodation
" and "first class travel
" to the US, UK and Thailand to keep up with his high-class pals. He also claimed that he was "lonely
", which doesn't seem a particularly strong reason for stealing millions of dollars.
||Raneberg's new, not so exclusive accommodation yesterday
The court seemed to agree, as last week Raneberg was sentenced to ten years in jail with no parole for at least six years and four months, according to a report
in the Australian. Judge Geoffrey Muecke told the court that the former CFO had "put into reality a somewhat fantasy life of the rich and famous
" which had "snowballed out of control
It's a sharp fall from grace for the man who was previously seen as a pillar of the community, serving on the board of the State Opera and the Central School of Arts. And it's a very sharp shock for Minters' partners. Despite asking for $6.5m from Raneberg in restitution, the judge confirmed they should expect to receive less than $50k. Ouch.
Minters' Managing Partner would only say: "Minter Ellison Lawyers SA/NT acknowledges that the matter involving Craig Raneberg has been dealt with by the Court. We thank our dedicated staff and our clients who have remained steadfast in their support of our firm