Ruthless' accountant jailed for 5-year fraud
17.11.1999
AN accountant who ``ruthlessly'' defrauded friends and clients of $2.6 million was jailed for the maximum 10 years yesterday.
The Brisbane District Court heard Nicholas Webster Ripper used the money to help fund an ``exorbitant and lavish lifestyle'' that included buying a historic Darling Downs homestead, an aeroplane, two Mercedes cars, antiques, and paying for school fees and tax bills.
Ripper, 42, now of Hawthorn in Melbourne, admitted defrauding a wide cross-section of Bundaberg's society during a five-year period.
The court was told Ripper encouraged 17 clients, all from the Bundaberg area, to invest their life savings, superannuation money or redundancy payouts in companies he had set up. Ripper misappropriated $2,562,950, of which only $380,487 was repaid to six clients, leaving a shortfall of $2,182,463.
The court heard there were several civil actions against Ripper and some financial institutions had priority in recouping losses.
Acting Judge Milton Griffin said he was satisfied the case was one which justified the maximum sentence of 10 years.
``You followed a path of destruction with your criminal activities affecting the good people of Bundaberg,'' he said.
``It was an extreme example of you taking advantage of those who put their trust in you.''
Judge Griffin said Ripper acted in a selfish and ruthless manner which had left many of his victims destitute.
He said he accepted Ripper was suffering a mental illness at the time and continued to suffer from clinical depression which affected his judgment.
Judge Griffin said he also took into account the affect on Ripper's family, his guilty plea, remorse and the fact he would serve his sentence in a jail thousands of kilometres from his family.
The court heard Ripper faced further charges for frauds in Melbourne allegedly committed last year while on bail.
Earlier, prosecutor Simon Burgess said Ripper used the money for ``an exorbitant and lavish lifestyle'', paying costs of living such as school fees and for business ventures.
However, defence counsel Duncan Allan called evidence to support a claim Ripper, at the time of the offences, was suffering from clinical depression which ``diminished his perception and judgment''.
Ripper pleaded guilty to 17 counts of misappropriation with a circumstance of aggravation on various dates between early 1992 and January 1997.
The charges he faced yesterday involved 20 victims, one of whom was an 80-year-old woman whose tax returns he used to prepare -- yet he stole her life savings of $68,000.
At his committal hearing in Bundaberg in March last year, Ripper stayed at a city motel. When he left he allegedly skipped on the $300 motel bill -- and there is now a warrant out for his arrest on that matter.
When he was charged and departed for Melbourne, Ripper took truckloads of antique furniture he had acquired with his stolen funds and sold it to dealers in Melbourne.
In November 1997, many of his former victims received a letter from Melbourne a company called Gilbert and Morgan Pty Ltd. The letter stated the company had acquired computers previously belonging to Ripper and on the hard drive were important taxation details of the person to whom the letter was addressed.
The proposal was that, for the payment of $210 each, the files would be returned.
Further investigation revealed the tout was Ripper, attempting to perpetuate his fraud.
One of Ripper's victims was the Gurang Land Council at Bundaberg, an Aboriginal organisation that provides housing and other necessities for indigenous people.
Ripper was employed to do their tax and noted an ATSIC grant of $150,000 had arrived and would not be needed for several months.
He convinced the Gurang board to invest it with one of his companies -- Gullwing Securities -- and that is the last they saw of the money.
John and Leila Muller, cane farmers of Childers, were personal friends with Ripper because he had looked after family accounts for years. The couple had saved money so they could buy a neighbouring farm to be worked by their son.
But Ripper convinced them they should invest it with a new deal he had arranged -- and they kissed their $217,000 goodbye.
The biggest losers were Eric and Betty Voss, Bundaberg cane harvesting contractors. These were people who had worked all their lives to provide for their retirement.
They sold property they owned with a view to investing for their retirement, but Ripper convinced them into putting it with his companies -- with the result they lost close to $700,000.
