Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Guilty plea over pokie profits

Guilty plea over pokie profits

A 67 year old man has pleaded guilty to five charges of theft by a person in a special relationship after he failed to bank $93,127 of pokie machine profits.

The Department of Internal Affairs, which is responsible for the integrity of the New Zealand gambling sector, issues licences to venues and incorporated societies to operate gaming machines and investigates misconduct in the sector.

In its statement to the Auckland District Court the Department said Patrick Francis Williams, 67, was a director of various companies which were venue operators for a number of gambling venues.

Venue operators must bank the profits from the societies’ gaming machines on its premises into the society’s designated bank account. The society is then responsible for the distribution of grants to community organisations.

Director of Gambling Compliance, Debbie Despard says Williams either failed to bank the pokie profits or significant portions of sums that were deposited were dishonoured.

“He also failed to keep to an agreement made with the incorporated society, North and South Trust Ltd, to pay back the money.

“The community is the ultimate beneficiary of the gaming machine proceeds, so when someone fails to bank the proceeds it is community groups that miss out.”

Williams, formerly of Cambridge and now living on Australia’s Gold Coast was remanded until April 17 for sentencing.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news