Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Finance company legal advisor found guilty of fraud

Finance company legal advisor found guilty of fraud

Hugh Edward Staples Hamilton (62) has been found guilty at the Auckland High Court today of 14 charges arising out of the collapse of Belgrave Finance Limited (Belgrave Finance). The charges were brought in a joint prosecution by the Serious Fraud Office (SFO) and the Financial Markets Authority (FMA).

The charges related to loans, with a value of more than $12 million, made by Belgrave Finance to various related companies between June 2005 and March 2008.

Mr Hamilton, a former barrister and solicitor, was a legal adviser to the other individuals, Mr Schofield, Mr Smith and Mr Buckley, who were charged in relation to Belgrave for substantive fraudulent representations and use of Belgrave investors’ funds.

Mr Hamilton was found not guilty of 25 charges, these included 11 charges of false statement by a promoter, 11 Companies Act charges of making a false statement to a trustee and three theft charges.

Justice Faire’s comments regarding the verdict, included that he was satisfied that Mr Hamilton “had knowledge that Mr Schofield, Mr Smith or Mr Buckley, through their borrowing were causing Belgrave to be in breach of the Debenture Trust Deed.” Justice Faire also found beyond reasonable doubt that Mr Hamilton “intended to assist in the offending”.

FMA Head of Enforcement, Belinda Moffat, said, “Professional advisers play a critical role in ensuring compliance in financial markets. This case shows that advisers who fail in this basic obligation and who are instrumental in enabling their clients to commit financial crimes will be held accountable for their actions.”

SFO Director, Julie Read, added, “This was a complex matter which has been dealt with through our coordination with the FMA, ensuring the most effective and efficient application of specialist skills and resources to the investigation.”

Mr Hamilton has been remanded on bail and will next appear for sentencing on 4 July 2014.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

#SaveCampbellLive : Mediaworks Delivered 104,000 Petition Signatures At TV3's Newton HQ
#PonyTailGate #TailGate Full Coverage

Pukeahu Park : ANZAC 100th Anniversary Dawn Service In Pictures

Roughly 18,000 people gathered this morning at Pukeahu Memorial Park for the Anzac day centenary. Anticipating the large turnout, patrons arrived as early as 4.30. It was virtually impossible to get near the Memorial after 5am. By 6, the crowds on Taranaki Street had stretched as far back as the Z Petrol station.

The screens erected around the park displayed the live events to those who had turned up. The heat generated by the huge number of people caused many to take a turn. Medics and ambulances were on hand for the fainting crowd members. Only twenty minutes into the ceremony, one medic said they had already dealt with 15 to 20 spells. More>>

 

PARLIAMENT TODAY:

War: What’s To Commemorate?

Gordon Campbell in Werewolf: Is there anything that can be validly commemorated on this 100th anniversary of Gallipoli? Beyond, that is, a fleeting sense of empathy with the thousands of soldiers killed or wounded on April 25 1915 and in the months thereafter, until the whole thing was finally called off in December 1915. More>>

MORE IN WEREWOLF:

ALSO:

Peter Ellis Case: Minister Declines Request For Commission Of Inquiry

Justice Minister Amy Adams has declined a request from supporters of Peter Ellis for a Commission of Inquiry on the basis that an inquiry cannot be used to determine the liability of any person. More>>

Quakes: New Process For Red Zone Crown Offers

Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

ALSO:

Gordon Campbell: On The Battle Obama Is Waging Over The TPP

For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

ALSO:

Greens: Govt Breaks Free Doctors Visit Promise To Kids

Documents obtained by the Green Party show that the Government decided to fund only 90 percent of doctors’ visits for children suffering from an injury in an attempt trim the cost of the so-called “free” visits. More>>

ALSO:

Other Wars: Extension Of NZDF Commitment In Afghanistan

The New Zealand Defence Force’s commitment of mentors and support staff to the Afghan National Army Officer Academy in Afghanistan has been extended out to December 2016, Defence Minister Gerry Brownlee says. More>>

PM's Press Conference: Auckland Property Prices Increasing "Too Rapidly"

John Key accepted that Auckland property prices 'are going up too rapidly” in a press conference held today in Wellington, however he said that this is not anything new. More>>

ALSO:

Press Conference: ANZAC PMs Concerned About ISIL Bringing The War Home

Prime Minister Key and Prime Minister Abbott spoke of the bond formed between Australia and New Zealand in the “baptism of fire” of Gallipoli. Abbott stated that New Zealand and Australia’s values and interests are linked, and this is reflected in the joint operation in Iraq which will begin shortly. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
More RSS  RSS News AlertsNews Alerts
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news