The Seven Network has been granted an injunction to freeze the assets of a senior manager who admitted to falsifying invoices.
The NSW Supreme Court has heard that John Fitzgerald, the network's commercial manager of programming, admitted to falsifying invoices from companies he owned and then approving their payment.
Mr Fitzgerald was permitted to authorise payments up to $55,000.
"It is clear from the material before the court that a serious and ongoing fraud appears to have been committed by Mr Fitzgerald against his employer," court documents said.
Mr Fitzgerald has been suspended from duty and is co-operating with Seven to recover funds, a Seven spokesman said.
"Having made substantial recovery already, Seven is confident of minimising financial impact," the spokesman said.
Mr Fitzgerald couldn't be reached for comment.
The fraud was uncovered in early April by an internal audit.
Shares in Seven West Media, the owner of the Seven Network, were down 0.75 cents, or 0.8 per cent, at 94.75 cents at 1300 AEST.
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