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SFO charges MightyRiverPower engineer with $2 mln fraud

SFO charges MightyRiverPower engineer with $2 mln fraud

By Paul McBeth

Sept. 2 (BusinessDesk) - The Serious Fraud Office has charged a MightyRiverPower engineer of fraudulently issuing invoices totalling $2 million.

Paul Rose faces four charges under the Crimes Act of obtaining by deception and Jane Rose faces two charges, the SFO said in a statement. The pair are alleged to have fraudulently issued invoices to MRP for goods which weren't provided or services that were instead performed by Paul Rose or others between June 2005 and December 2012, it said.

This investigation resulted from observations and internal checks at MightyRiverPower," SFO director Julie Read said. "The company's actions in referring this matter to the police and the active support for the SFO's investigation means that we are now in a position to lay charges and prosecute the people involved."

MRP launched an internal investigation in December 2012 before referring it to police in early 2013. The SFO launched a probe in April 2013.

The defendants will next appear in the Auckland District Court on Sept. 30.

Paul Rose was employed at the Southdown power station in Auckland from November 2001 to December 2012, initially as a technician and later as an engineer, the SFO said. Part of his role was to identify what equipment needed ordering or what services needed to be provided for the operation of the plant.

Shares of MRP were unchanged at $2.30 today, and have gained 8 percent this year.

(BusinessDesk)

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