Australian Woman Accused of Defrauding Financial Institution Out of $45M

This is Rajina Subramaniam, a suburban wife in Australia with an alleged taste for the high life that has left her accused of the nation's biggest ever one-person fraud, the Australian Daily Telegraph reported.

The 40-year-old Castle Hill accountant allegedly defrauded financial institution ING out of more than $45 million as she sat at her desk in their Sydney office, siphoning funds into her private accounts to fund a lavish shopping habit over five years.

Amazingly, nobody - not ING, nor her husband - had the faintest clue about what she was allegedly up to.

The extraordinary story behind the allegedly record-breaking fraud was revealed in Central Local Court Thursday, where Subramaniam made an unsuccessful application for bail.

Even her own attorney, Tim Game, described the case as "an extraordinary one."

A senior accountant at ING Australia Holdings' Sydney office, where she had worked for 20 years, Subramaniam began the alleged offending behavior gradually, the court heard.

Click here for more from the Australian Daily Telegraph.