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Director jailed for theft, false statements

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  • Director jailed for theft, false statements

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    Former Belgrave Finance director Shane Joseph Buckley has been jailed for three years on a variety of charges including theft and making false statements. Buckley, 44, who was sentenced in the Auckland District Court today, pleaded guilty in May to 19 charges laid by the Serious Fraud Office (SFO) of theft by a person in a special relationship, and four charges of making false statements under the Crimes Act.

    He also admitted one Securities Act charge of making an untrue statement and one Companies Act charge of making a false statement to a trustee which was brought by the Financial Markets Authority (FMA) in a joint prosecution.
    The charges related to more than $18 million of loans made by Belgrave to various entities between June 2005 and March 2008.

    The finance company, which made property loans, went into receivership in May 2008 owing about 1000 investors $20m. Receivers have indicated a potential recovery of around 21c in the dollar.

    SFO Chief Executive, Adam Feeley, said while there might be understandable fatigue in some quarters with "yet another finance company sentencing", it was important to the integrity of law enforcement to ensure that the legal system held those responsible to account for their financial crimes.

    Earlier this year, another former Belgrave finance director, Stephen Charles Smith 43, and an associate, Raymond Tasman Schofield, 49, were committed for trial on similar charges. The trial is set down to begin on April 29 2013

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