Strata Manager Denied Bail Over Alleged $2 Million Fraud

In short:

A former strata manager has been refused bail on charges of allegedly defrauding customers of $2 million on the NSW Mid North Coast.

Jessica Marrie Carah was charged with more than 400 counts of obtaining financial advantage by deception while working at a Coffs Harbour strata management business.

What's next?

Ms Carah will return to court on July 15.

A former employee of a strata business on the NSW Mid North Coast has been refused bail on more than 400 fraud offences.

According to NSW Police, Jessica Marrie Carah, 30, is alleged to have transferred more than $2 million from strata trust accounts into a personal bank account.

She allegedly spent the money on cryptocurrency investments, luxury goods and an SUV.

Ms Carah was arrested at her Coffs Harbour home on Thursday and charged with recklessly deal with proceeds of crime and 403 counts of dishonestly obtain financial advantage by deception.

She appeared via video link from custody before Acting Judge Amanda Coultas-Roberts in Bail Court today.

In opposing bail, police prosecutor Leanne Smith told the court Ms Carah's alleged actions amounted to "a serious breach of community trust".

"She was the sole person with access to these funds and these actions have had considerable effects on the whole community," Sergeant Smith said.

" There are concerns about her interfering with witnesses and, in light of a likely custodial sentence, of failing to appear in court. "

Defence solicitor Tas Tasdemir told the court Ms Carah had been under pressure.

"Monies were transferred from the strata business where she was working and were then transferred to her ex-partner's account," he said.

" She states she was under duress to her ex-partner at the time. "

Mr Tasdemir told the court Ms Carah had depression and anxiety and was seeing a psychologist.

Judge Coultas-Roberts described the charges as "an extremely serious matter and a breach of trust of the 63 victims who believed she was dutifully managing their strata".

"It seems, on the facts I have, that it is a strong prosecution case,"

she said.

"Should she be convicted of the offences, a full-time custodial sentence is inevitable."

Ms Carah dropped her head and appeared to wipe her eyes when Judge Coultas-Roberts refuse bail and remanded her in custody.

Ms Carah is expected to return to court via video link on July 15.