Four charged with fraud over $40M loan facility from ANZ Bank to develop Waldorf Celestion

Wed, 15 Feb 2017

By Jonathan Underhill Feb. 16 (BusinessDesk) - Four people have been charged with fraud over a $40 million loan facility obtained from ANZ Bank New Zealand to finance the development of the Waldorf Celestion Apartment Hotel in Auckland, the Serious Fraud Office says. Property developer Leonard John Ross, company director Michael Wehipeihana, self-employed consultant Vaughn Stephen Foster and one other who has name suppression each face four charges of 'obtaining by deception' and two charges of 'using forged documents' to secure the credi...

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