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Charges Result In Conviction Of Former Lion Foundation CEO

SFO charges result in conviction for former Lion Foundation Chief Executive

David John Conroy, former Chief Executive Officer of the Lion Foundation was today found guilty of one count of false accounting and two counts of false accounting by an employee.

The verdicts came at the end of a two week jury trial held in the Auckland District Court before Judge Gibson.

Serious Fraud Office Chief Executive, Adam Feeley, said the decision brought to an end a very long and demanding case for the SFO.

"This case is illustrative of the time and dedication required of a serious fraud investigation, and there are simply no shortcuts if a matter is to be brought to a successful conclusion."

The charges were laid by the SFO and related to three journal entries made between 2002 and 2004 in the Lion Foundation accounts, which had the effect of writing off almost $520,000.00 from a debt balance owed by the Strathern Inn in Invercargill.

Mr Conroy made the journal entries without the knowledge or approval of the Board in order to hide the true amount owed to the Foundation by the Strathern Inn.

Mr Conroy was remanded on bail for sentencing on 13 April 2011.

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