6 May 2019

A Wellington man has been charged by the Serious Fraud Office in relation to funds paid for the purchase of reproduction aircraft and the unauthorised use of an aircraft as security to obtain a loan.

Eugene John DeMarco (57) first appeared before the Wellington District Court in May 2018, where he pleaded not guilty to the fraud charges and was remanded on bail.

Mr DeMarco faces charges of ‘Theft by person in a special relationship’ or ‘Obtaining by Deception’, as alternative charges, in relation to the sale of three reproduction vintage aircraft to the New Zealand Warbirds Association Inc. He arranged the sales in his capacity as production manager for The Vintage Aviator Limited.

The SFO has also charged Mr DeMarco with ‘Theft by person in a special relationship’ and ‘Obtaining by Deception’ in relation to the unauthorised use of another vintage aircraft as security to obtain a loan.

Mr DeMarco, who is a citizen of the United States, is scheduled to stand trial in the Wellington High Court on 26 August.

ENDS

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