The alleged offending occurred between March 2023 and September 2025, according to police. Spence is accused of defrauding Neilson, the founder of the White Rabbit Gallery and a significant shareholder in Platinum Asset Management, for whom she had worked since March 2017. The charges follow a police raid on Spence's home in Erskineville on Wednesday morning.
' and shattering glass. However, multiple reports indicate the raid occurred while Spence was out walking her dog. A search warrant was also executed at a storage facility in Campbelltown.
These are serious charges, your honour.
Police seized artwork, designer shoes, luxury handbags, and monogrammed Louis Vuitton trunks from Spence's home, with over 115 items seized in total, according to police prosecutor Sergeant Ashlee Uren. Spence was taken to Mascot Police Station after her arrest. The alleged fraud was uncovered when another staff member discovered a $59,000 charge for a pink-gold Rolex watch purchased from a London trader, according to Belfast Live.
Neilson stated she did not authorise Spence's supplementary card and was unaware of the removal of finance team oversight. She also said she had no idea Spence was allegedly footing the $40,000 party costs for her 50th birthday, held at the Capella Hotel in Sydney. The celebration included a $1,200 gown, $10,000 shoes, $1,000 monogrammed napkins, and a $6,000 hotel stay.
She and her husband have made approximately $840,000 in repayments prior to the charge.
Spence is also alleged to have spent tens of thousands on American getaways, personalised diamond and gold jewellery, high-end fashion, fine art, chauffeur-driven transport, premium mattress toppers, and Cartier jewellery. Spence appeared via video link at a bail hearing on Thursday. Her defence lawyer, Bryan Wrench, acknowledged the seriousness of the charges but stated that Spence and her husband had made approximately $840,000 in repayments prior to the charge.
Wrench cited mental health concerns, stating Spence is being treated for PTSD and bipolar disorder. Police prosecutor Sergeant Ashlee Uren said large-scale financial crime causes significant harm to the community. Local Court Judge Lucas Swan said the prosecution's case appeared to have 'overwhelming' strength and endorsed a warrant for Spence to access mental health treatment while in custody.
She is being treated for PTSD and bipolar disorder.
Spence is due to appear in court again on May 7. 6 million. The precise method Spence used to access Neilson's funds is also disputed, with allegations of both impersonation to obtain a supplementary American Express card and misuse of a business credit account.
The status of the $840,000 in repayments and how they affect the total alleged loss has not been clarified. Spence, aged 51 and from County Antrim, Northern Ireland, has been detained. She was refused bail on Friday May 8 during a court appearance in Sydney.
Large-scale financial crime causes significant harm to the community.
Spence faces multiple charges related to unauthorised use of Neilson's funds spanning several years. She is believed to have been employed as Neilson's personal secretary for eight years. Spence allegedly used a supplementary American Express card obtained by impersonating Neilson and a business credit account to make unauthorised purchases.
The alleged unauthorised purchases included luxury items such as clothing, artwork, and jewellery. Neilson stated she did not authorise Spence's supplementary card and was unaware of the removal of finance team oversight. She also said she had no idea Spence was allegedly footing the $40,000 party costs for Spence's 50th birthday.
The prosecution's case appears to have overwhelming strength.
Spence's defence lawyer, Bryan Wrench, acknowledged the seriousness of the charges. Wrench stated that Spence and her husband had made approximately $840,000 in repayments prior to the charge. Wrench cited mental health concerns, stating Spence is being treated for PTSD and bipolar disorder.
Police prosecutor Sergeant Ashlee Uren said large-scale financial crime causes significant harm to the community. Local Court Judge Lucas Swan said the prosecution's case appeared to have 'overwhelming' strength. Judge Swan endorsed a warrant for Spence to access mental health treatment while in custody.
Spence had worked for Neilson since March 2017. Neilson is the founder of the White Rabbit Gallery and a significant shareholder in Platinum Asset Management. Spence's 50th birthday party was held at the Capella Hotel in Sydney, with costs including $40,000 total, $1200 gown, $10,000 shoes, $1000 monogrammed napkins, and $6000 hotel stay.