The former chief executive of biotech business Phosphagenics has pleaded guilty to her role in stealing more than $6.1 million from the company.
Dr Esra Ogru, 39, pleaded guilty to her part in the multi-million dollar theft in Melbourne Magistrate's Court on Friday.
She had been charged with six counts of obtaining a financial charge by deception, while her co-conspirators, Dr Robert Gianello, 59, and Dr Woei-Jia Jiang, 51, have pleaded guilty to three counts each.
Dr Ogru's charges relate to more than $5.6 million in false invoices submitted to the company for research and development expenses and $545,000 in false claims for the reimbursement of credit card expenses.
She will face court again on August 29.
Dr Gianello was also an employee of Phosphagenics and has admitted to agreeing to the submission of false invoices by a firm owned by Dr Jiang.
The fraud came to light following an audit of Phosphagenics' books last year and Dr Ogru has already agreed to repay some of the stolen funds.
Phosphagenics is developing an opiod skin patch to treat chronic pain.
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