How a fraudster led a jet-set life of fast cars, speedboats and millions of dollars in poker after stealing $ 7 MILLION from the school he worked for
- Augustine “Gus” Nosti stole $ 7 million dollars from Moriah College Jewish school
- He embezzled money to pay for fast cars, speed boats and binges
- The fraudster has been ordered to repay everything after being charged by school
A fraudster has been ordered to refund the $ 7 million he stole from a Sydney school to spend fast cars, speedboats and billions of slots.
Augustine “Gus” Nosti admitted to having stolen the money from Moriah College in the eastern suburbs of Sydney during the decade he worked there.
The former financial controller sent the money from the Jewish school bills to his own pockets to finance his lavish lifestyle.
Now Mr. Nosti is forced to return everything he stole after being labeled a “thief” by Justice David Hammerschlag at the Supreme Court of New South Wales.
The former financial controller had funneled the money from Moriah College (pictured) bills into his own pockets to fund his lavish lifestyle
Justice Hammerschlag condemned the fraudster’s behavior, including his ‘fondness for luxury cars’ and sea travel, the Sydney Morning Herald reported.
He was a “heavy gambler and, by all accounts, a heavy drinker” and often spent lunch breaks gambling away the stolen funds at the Green Tavern watering hole.
But he hadn’t always lived the life of a high roller.
In 2002, the school accountant was broke and lived in a unit paid for by his parents following the collapse of his Italian restaurant.
Within two years, he got a lucrative job at Moriah, where he gained full access to the school’s finances.
It wasn’t even a full year before he started diving into the school’s funds and stole the first installment of $ 5,000 in December 2004.
In 2019, he had stolen more than $ 7,337,282, including $ 3,965,892 in tax returns, the Daily telegram reported.
This was the year the school uncovered the extent of the thefts and took legal action against Mr. Nosi and his wife Melynda at the Supreme Court.
The legal battle is finally over for the school, with the judge ordering Mr. Nosti to repay Moriah $ 7,337,282.
His wife Melynda has been ordered to pay $ 77,905.