Grant Herbert found guilty on 24 charges over failed insurance group

Thu, 11 Sep 2014

By Jonathan Underhill Sept. 11 (BusinessDesk) - Grant Herbert, the former owner and director of failed insurance broking firm Herbert Insurance Group, has been found guilty on 24 of 26 charges he was facing under the Crimes Act and Secret Commissions Act. The Auckland District Court heard that between 2005 and March 2011, Herbert failed to forward about $2.5 million of client premiums to insurers, diverting the money to meet his company's operating expenses. Some clients were left uninsured as a result. Herbert was remanded on bail and...

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