A director of failed Auckland finance company Belgrave Finance has pleaded guilty to 23 charges connected to the collapse of the company.
Belgrave was placed in receivership in 2008 owing an estimated 1000 investors $22 million. It was liquidated in 2010.
Shane Joseph Buckley pleaded guilty in Auckland District Court on Friday to 19 charges of theft, and four charges of false statement.
Earlier this year, former Belgrave finance director Stephen Charles Smith, 43, and an associate, Raymond Tasman Schofield, 49, were committed for trial on similar charges with a date yet to be set.
The Serious Fraud Office laid a total of 60 charges against the three, alleging they misrepresented to investors how their investments in Belgrave would be used, and subsequently used those funds in an unauthorised manner.
The charges relate to more than $18 million of loans made by Belgrave Finance to various entities allegedly related to Schofield and the company, between June 2005 and March 2008.
The Financial Markets Authority has also laid charges against the three.
Buckley was remanded for sentence on August 30.Belgrave Finance provided finance and mortgage facilities for commercial and residential property developments.
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