Former fraud detective calls on police to investigate mystery of the missing $908,000

A huge sum of money went missing from a bank in the late 1980s. And now a former fraud detective is calling on the police to investigate.

A banking and fraud expert has called on police to investigate the 30-year mystery of a Victorian couple’s missing near-$1 million.

Joan Thomas says the lump sum disappeared from their account in 1989, and they have been pushing against the Commonwealth Bank for nearly three decades.

Now 81, the great-grandmother alleges she and her husband Rod deposited $908,000 at a Melbourne branch of the State Bank of Victoria, which was later taken over by the Commonwealth Bank, in 1990.

Joan Thomas has been fighting for her cash for 30 years.

Ms Thomas says she only noticed the money was gone when the couple’s mortgage repayments were being rejected.

But the bank insists the matter has been exhaustively investigated for nearly 20 years and say there are no records of the couple ever having an account with the lender.

It says all State Bank of Victoria accounts were converted to Commonwealth Bank accounts when the two institutions merged.

“When someone raises a concern about their accounts we commit to a full investigation,” a Commonwealth Bank spokesperson said in a statement provided to news.com.au.

“Our records indicate Ms Thomas has never held a CBA term deposit or 24-hour account. “Ms Thomas’ case has been thoroughly investigated a number of times, and each investigation has found no record of either the term deposit or 24-hour account.”

The couple have a case to be heard, says Tim Carrodus.

A former Victoria Police fraud detective and current bank investigator, Tim Carrodus, told A Current Affair the couple had a good case.

“It’s possible the money has been misappropriated by someone within the system,” he said.

“I think (Joan and Rod) have a good case, and they need to pursue it, and they need to be compensated appropriately.

“There needs to be a detailed investigation with their coercive powers to find out what happened to that money.”

Ms Thomas said the ordeal had taken its toll on her, saying she is emotionally and physically exhausted.

“I’ve had a raw deal, but I’m here, and I doubt they’re going to get rid of me,” she said.

Ms Thomas told the Herald Sun last month she wouldn’t stop fighting the bank.

Last month, the great-grandmother said she had pinned her hopes on a resolution to the mystery of the missing money during the banking royal commission.

But when she contacted the Commonwealth Bank after the inquiry, she says she got no reply.

“I have fought like anything. I have never stopped. The recent banking royal commission was just our latest attempt to get answers,” she told The Herald Sun.

Ms Thomas claimed the bank manager, a personal friend, had warned her husband the State Bank was in financial trouble, and there was “much corruption” going on inside it.

But the Commonwealth Bank says it can’t comment on conversations that may have taken place between Ms Thomas and a branch staff member at the previously owned institution.

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Originally published as Former fraud detective calls on police to investigate mystery of the missing $908,000