The trusted ex‑secretary of one of Australia's richest women has been denied bail after she was accused of stealing more than $1 million from her former boss in a case that has rocked Sydney's elite.
Annalouise Spence, who worked for philanthropist Judith Neilson, was arrested on Wednesday at her home by heavily armed police following an extended investigation into alleged fraudulent expense claims made by an employee at the Judith Neilson Foundation.
It is understood that Spence worked as Neilson's private secretary for eight years.
Police allege Spence, 50, used a business credit account to make unauthorised purchases of luxury and personal items, including clothing, artwork and jewellery, between March 2023 and September 2025.
'Following extensive inquiries, yesterday morning investigators executed search warrants at a home in Erskineville, and a storage unit in Campbelltown,' the NSW Police Force said in a statement.
'During the search, officers located and seized luxury handbags, jewellery, clothing, documents and other personal items.'
Spence was charged with 68 counts of dishonestly obtaining property by deception.
While fronting Bail Division Court 7 on Wednesday afternoon via audio‑visual link, Spence appeared in a baggy checkered jumper with her distinctive black glasses on show as she sat silent throughout her lawyer's submissions.
Annalouise Spence (pictured with her husband Adam) was arrested on Wednesday for allegedly stealing over $1 million from her former boss
Spence (centre) was the private secretary for the billionaire philanthropist Judith Neilson (centre, right) - pictured together at a SolidAfrica event in Rwanda
The duo worked together for eight years, with Spence believed to have been entrusted with access to Ms Neilson's intimate personal and financial details without oversight
Spence's lawyer, Bryan Wrench from Murphys Lawyers, told the court the couple had been in contact with Ms Neilson, the complainant, since October 2025, when her employment was ceased.
The couple had reportedly been regularly corresponding with Ms Neilson and her representatives over a repayment schedule.
Mr Wrench said the couple had already paid back over $800,000 to Ms Neilson before heavily armed police swooped on their home on Wednesday — a move he described as "totally unnecessary."
The court also heard Spence, who has been diagnosed with complex PTSD and bipolar disorder, was out walking her dog when she was arrested.
Despite the judge admitting the case was "confusing," noting disparities between the police facts and a sworn affidavit by Spence's husband, bail was denied on the grounds that a custodial sentence was likely to be handed down if convicted.
"It appears admissions were made to a vast number of sequences by the accused... it is my assessment that the strength of this case is overwhelming and if convicted of the offence, a custodial sentence is inevitable," the judge said.
The court heard police located 115 items from Spence's Erskineville home that they will allege were part of the fraudulently acquired property.
She is next due to front Downing Centre Court via audio‑visual link on May 7.
Spence allegedly used this Black Amex card which was linked to Ms Neilson's account, without her knowledge
Ms Neilson is benefactor behind the White Rabbit Gallery in Chippendale, Sydney - which is focused on Chinese art
During Spence's employment, Neilson, who has an estimated net worth of $1.4 billion, entrusted her with access to her intimate personal and financial details, the Sydney Morning Herald
Spence is also alleged to have impersonated Neilson, 79, to obtain a supplementary card attached to her Black Amex Card.
It was this card she allegedly used to rack up over $1 million in expenses on first-class flights, luxurious hotel stays, designer clothes and bags, jewellery and artwork.
Neilson told the publication she did not authorise Spence's card and had no idea Spence had allegedly removed her finance team's oversight of her Amex account.
Among the allegations facing Spence is that she used the Amex card to buy a $16,000 piece of art for a male friend, which he then reimbursed to her personal account, $58,593 on a rare pink-gold Rolex wristwatch from the Vintage Watch Company in London and $21,000 had been spent at the luxury department store Harrods.
Spence allegedly also billed Neilson's card $38,757.85 for a five-night stay at a New York hotel in October 2023.
'I was sickened and so damned hurt,' Neilson told the publication upon discovering Spence's alleged frauds.
Spence's employment reportedly ceased in September 2025 following a 'restructuring' of Ms Neilson's office.
It was only when Ms Neilson's new assistant was reconciling her account was when alarm bells started to ring.
NSW Police said the investigation remains ongoing.