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Serious Fraud Office
Thursday, February 16, 2017
Four people involved in an Auckland development have been charged under the Crimes Act by the Serious Fraud Office (SFO) at the Auckland District Court.
Name suppression has been lifted on two of the defendants and was not sought by another. The defendants in the matter are property developer Leonard John Ross (50), company director Michael James Wehipeihana (45), self-employed consultant Vaughn Stephen Foster (54) and one other.
The charges
They each face four charges of ‘Obtaining by deception’ and two charges of ‘Using forged documents’.
The charges against the defendants arise in relation to allegedly making false statements and using forged documents in order to obtain a credit facility from the ANZ Bank New Zealand Limited to allow a company, Emily Projects Limited (Emily Projects), to develop the Waldorf Celestion Apartment Hotel in Auckland.
It is alleged that a loan facility of approximately $40 million was obtained.
SFO Director, Julie Read said, “The SFO alleges that the defendants conspired to mislead ANZ to secure a loan facility. The banks are entitled to expect that businesses will provide accurate information in support of their loan applications and a failure to do so may have cost implications for all.”
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