The financial capacity of a fraud victim to absorb the loss is a neutral factor in assessing objective seriousness — it neither aggravates nor mitigates. Where a proceeds of crime offence forms part of the same course of conduct as the principal fraud committed in breach of trust, the breach of trust aggravating factor applies to the proceeds of crime offence as well. A sentencing judge is not required to determine which co-offender instigated the offending where both were willing participants over a lengthy period.
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