Belgrave’s Stephen Smith jailed for 4 years over $18 mln fraud

Thu, 06 Jun 2013

June 7 (BusinessDesk) - Former Belgrave Finance director Stephen Smith has been sentenced to four years in jail after pleading guilty to 25 charges for his role in an $18 million fraud relating to the collapse of the lender in 2008. Smith was sentenced at the High Court in Auckland for his role in a number of transactions between June 2005 and March 2008 for the benefit of related entities of Belgrave, the Serious Fraud Office and Financial Markets Authority said in a joint statement. He pleaded guilty in April to 19 charges under the Crimes...

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