Former Crosby Textor employee Mohammed Syed to be sentenced for fraud

An internationally renowned campaign strategist has stared down a former employee he once trusted so much he gave him keys to his home — before the staffer stole substantial funds from his business.

Mohammed Saderuddin Syed leaving the Downing Centre. Picture: NewsWire

A financial controller who was considered a friend at a small but powerful firm that helped secure multiple Liberal election wins left his colleagues devastated and betrayed after stealing funds from the business.

Only weeks before he was to fight 396 fraud charges at trial, former Crosby Textor employee Mohammed Saderuddin Syed pleaded guilty to six counts of dishonestly obtaining a financial advantage by deception.

The 396 charges are all encompassed by the six rolled-up charges, which pertain to Syed’s theft of $183,092.50 from CT Group between January 2012 and March 2018.

On Friday at Sydney District Court, CT Group co-founder and internationally renowned strategist Sir Lynton Crosby issued a blistering rebuke to the man he once trusted so much he had keys to his home — saying he was little else but a “conman”.

The victim impact statement delivered before Judge Nicole Noman during Syed’s sentence hearing was written on behalf of Sir Lynton and his CT Group co-founder Mark Textor.

Mohammed Saderuddin Syed (right) outside court. Picture: NewsWire

“The dishonesty he now admits to represents a massive breach of trust that has deeply impacted our business, and us professionally,” Sir Lynton said.

“That breach of trust wasn’t just professional, it cut deep into our personal lives, violating the close bonds that we had naturally formed in our office – he was one of less than a dozen employees, with most sharing one office.

“Each of us has felt a profound sense of personal betrayal.”

Sir Lynton Crosby.

Mark Textor.

Syed’s misdeeds were first uncovered shortly after he was made redundant as a result of CT Group’s strategic decision to move their headquarters to London.

Initially he agreed to forfeit his redundancy payout – including the value of his annual leave entitlements – to the tune of approximately $50,000, which he confessed to having stolen.

Further investigations by CT Group, aided by a forensic accountant, revealed the $50,000 theft Syed had copped to was barely the tip of the iceberg.

Syed at court earlier in 2024. Picture: NewsWire

The ill-gotten gains were spent on a home in Rhodes in Sydney’s inner west, luxury cars and lavish vacations.

“We made a decision to give him a chance (when we hired him) to reward someone we believed was diligent, loyal, hard working, and trustworthy,” Sir Lynton said.

“When his wife was ill … we offered help and support, he had keys to our family home, he was treated like a trusted family member — this trust was, self-evidently, misplaced."

The pair did not spare the Office of the Director of Public Prosecutions or NSW Police in their scathing criticism of how the case was handled.

They expressed great frustration with the negotiation process, the fragmented case management, and even moments where evidence they had carefully prepared in their internal investigation was reportedly lost by police.

“The ODPP and police displayed indifference and disinterest in this crime,” Sir Lynton said.

“The system is easily gamed by criminals like Mr Syed (and) his delay of the proceedings has prolonged our stress and hurt – he has demonstrated no remorse, only a sense of arrogant entitlement.”

The Crown sought to tender evidence Syed had been bankrupt when he commenced his employment, and that he had not disclosed it as required when he signed his employment contract with CT Group.

Syed’s counsel said he was instructed he had disclosed his bankruptcy and the fact of it should not be considered as having any bearing on Syed’s personal or moral integrity.

Crosby Textor – founded by Sir Lynton Crosby and Mark Textor – is a conservative strategy outfit which helped secure election victories for several Australian prime ministers and premiers, including John Howard.

The sentencing continues before Judge Noman.
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Originally published as Former Crosby Textor employee Mohammed Syed to be sentenced for fraud