A former accountant has admitted to defrauding clients and the Australian Tax Office of over $1.4 million to fund his gambling addiction. James Redmond Burrows, formerly of Launceston, pleaded guilty to 113 charges in the Supreme Court in Launceston.
Between November 2015 and February 2020, Burrows diverted client funds into what he called his 'fraud account'. He kept income tax returns and GST refunds for himself, using the money for gambling and to pay other clients' tax obligations.
Burrows confessed to some clients in 2019 when they became suspicious. He told one client he was $800,000 in debt from gambling on horses, sports, greyhounds, and at casinos. Small businesses had given him unrestricted access to their online banking systems.
The fraud included false tax claims and direct theft from client accounts. One victim, Kate Gibson, changed her accountant and login details, but Burrows still attempted to take more money. He told police he would have 'cleaned her out' if she hadn't changed her details.
Burrows turned himself in, saying he had been 'robbing Peter to pay Paul'. The court heard victims suffered significant impacts, including a couple unable to buy a home and a man struggling to pay for cancer treatment. The prosecution described the offending as 'sustained, deliberate and calculated'.
Burrows' lawyer said he takes full responsibility, citing a psychologist's report on his severe gambling addiction. Burrows has been abstinent since April 1, 2023. No repayment has been made to clients or the ATO.
