17 July 2015

Six years’ prison for hiding the true picture

Andrew Hrothgar Robinson has been sentenced in the Auckland High Court today to six years’ imprisonment for fraud. Mr Robinson is a former financial advisor and director of Auckland based company, Strategic Planning Group Limited (SPG).

The Serious Fraud Office (SFO) filed five charges of theft by a person in a special relationship and one charge of dishonestly using a document against the former financial adviser in September 2013. Mr Robinson pleaded guilty to all of those charges in May 2015.

Mr Robinson stole investor funds of approximately $2.7 million to repay the investments of other investors and to pay for some business and personal expenses between 2010 and 2012. Mr Robinson also dishonestly used a document by making false statements in various investment reports to hide the true picture from investors.

SFO Director, Julie Read said, “As an investment adviser, Mr Robinson was in a position of trust and his breach of that trust is reflected in the sentence imposed today. The prosecution of such matters is an important aspect of protecting New Zealand’s reputation as a safe place to invest and do business and protects investors from those who fail to conduct business in accordance with the expectations of a reputable market.”

The investigation into SPG began in December 2012 when the Financial Markets Authority (FMA) received a complaint with allegations about Mr Robinson’s management of client funds through SPG. The FMA referred the Crimes Act issues to the SFO and the agencies conducted parallel investigations. Mr Robinson still faces charges laid by the Financial Markets Authority under Financial Markets legislation.

ENDS

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