Ponzi scheme operator Hibbs sentenced to 8 years jail over $17.5M fraud

Fri, 23 Mar 2018

By Jonathan Underhill March 23 (BusinessDesk) - Christchurch businessman Paul Hibbs has been sentenced to eight years in jail for defrauding clients of at least $17.5 million through a Ponzi scheme. The sentence, handed down in the Christchurch District Court, includes a minimum non-parole period of four years. Hibbs had pleaded guilty to charges under the Crimes Act including false statements by a promoter, theft by a person in a special relationship, using forged documents and forgery. The Serious Fraud Office said in a statement tha...

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