E-Gas liquidation prompts $17M fraud charge

Wed, 18 Jul 2012

July 18 (BusinessDesk) - The directors of failed natural gas retailer E-Gas under-reported gas by some 950,000 gigajoules of consumption to commit frauds worth $17 million in total, the Serious Fraud Office alleges in charges filed in the Wellington District Court. Wellington-based E-Gas went into liquidation without warning in October 2010, leaving other gas retailers to purchase its approximately 7,000 customers. The SFO alleges former managing director Ronald Peter Rosenberg and former general manager Sydney Lio Hunt under-reported gas con...

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E-Gas liquidation prompts $17M fraud charge

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