Ex-Moriah employee facing a civil case for missing $7m now charged by police

May 8, 2020 by J-Wire Newsdesk
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Gus Nosti, the former Moriah College financial controller facing a civil case for allegedly misappropriating over $7 million from the school has been charged by police.

Moriah College

He will face court in July on five counts of dishonestly obtaining a financial advantage by deception. He has been released on bail.

In a letter in March president Stephen Jankelowitz told the “Moriah Family” that former Augustine “Gus” Nosti’s, his wife’s and sister-in-law’s assets have been frozen and a hearing in the civil case in the Supreme Court would be heard in June.

Jankelowitz wrote to the community in March: “The forensic investigations have established that the alleged fraud was effected through various means, and involved multiple financial institutions over a 14 year period.”

Detective Inspector Gretchenn Atkins told The Sydney Morning Herald: “There were 402 separate transactions … and they ranged from $2000 through to $241,000.”

College Principal, Rabbi Yehoshua Smukler said: “We thank the police for their assistance with this matter. We will continue to cooperate with the police as required.”

Comments

5 Responses to “Ex-Moriah employee facing a civil case for missing $7m now charged by police”
  1. Ian Krause says:

    What a sordid tale !
    The directors would appear to be negligent in carrying out their fiduciary duties.
    An independent investigation needs to be undertaken ASAP

  2. David Shalit says:

    The Board must resign together with the external auditor
    The incompetence of these directors is shameful !!

  3. Mervyn Levine says:

    Treasurer for many of those years when Mr Nosti was employed is the current President of the Board. How embarrassing for Moriah College.

  4. Joanna Kalowski says:

    Where was the Board? 7 million dollars and no one noticed? Anyone who was on the Board then should resign.

    • Jonathan Benjamin says:

      I don’t know where the board was then, but most of them are still there now.

      Why?

      As a finance professional, if this happened on my watch I would step aside until the matter is fully investigated and resolved.

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