6 August 2013

Charge against SCF Chief Financial Officer dropped

Former South Canterbury Finance Chief Financial Officer, Graeme Brown, has had the one charge he faced dropped in the Timaru High Court this morning.

The Crown made an application to remove Mr Brown’s name from the indictment, which was granted by His Honour Justice Heath.

Mr Brown was one of five people charged in December 2011 by the Serious Fraud Office following the collapse of South Canterbury Finance.

Counsel for Mr Brown, Richard Raymond, said that his client has always denied any wrong doing at SCF, and in particular the allegation of False Accounting. The Crown’s withdrawal of the charge, following frank discussions and disclosure to the SFO and its counsel, totally vindicates Mr Brown’s position.

Mr Brown said that the last three years of investigation, and then the prosecution, has had a very profound impact on his personal and professional life.

“I would expressly like to thank my counsel, Richard Raymond, who has supported and believed in me throughout, together with our forensic investigator, Gib Beattie. I also thank those people that saw beyond the charge, and continued to believe in me and what I achieved during my tenure at SCF," he said.

As other charges remain before the Court, and Mr Brown may yet be called as a witness, it is inappropriate for him to comment further.

ends

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