Bankrupt Auckland property developer Mayer sentenced to 6 years’ prison for $47M mortgage fraud

Mon, 17 Feb 2014

Feb. 18 (BusinessDesk) – Bankrupt Auckland property developer Malcolm Mayer was today sentenced in the Auckland District Court to six years’ prison for orchestrating a $47 million mortgage fraud. The sentence follows a prosecution by the Serious Fraud Office which resulted in Mayer being found guilty in December of 16 charges of dishonestly using a document and 10 charges of using forged documents. Mayer submitted false loan applications to Trustees Executors Ltd, chaired by former Prime Minister Jim Bolger, to buy 26 properties around Auckl...

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