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

 

Steven Robertson convicted on 38 charges relating to PTT Ltd

Media release
MR No. 2019 – 40

19 August 2019

Steven Robertson convicted on 38 charges relating to PTT Limited and associated entities

The Financial Markets Authority (FMA) has today welcomed the Auckland High Court convicting Steven Robertson of 38 charges relating to PTT Limited and associated entities.

Mr Robertson was found guilty of the following charges, which were brought by the Crown under the Crimes Act 1961:

• 23 counts of theft by a person in a special relationship under section 220 of the Crimes Act 1961

• 11 counts of obtaining by deception under section 240 of the Crimes Act 1961

• 4 counts of dishonestly using a document under section 228 of the Crimes Act 1961.

Mr Robertson was found to have misappropriated funds deposited by clients who believed that those funds were to be traded on their behalf, or were paid as consideration for the purported purchase of shares in PTT Limited or an associated entity. Mr Robertson was also found to have withdrawn funds from credit card accounts of some clients without the client’s authority and knowledge.

Karen Chang, FMA Head of Enforcement, said: “We are satisfied with this verdict, as Mr Robertson’s actions harmed many New Zealanders.”

Mr Robertson was remanded in custody ahead of sentencing on 30 October 2019. The FMA will comment further on the case after sentencing.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Primary Sector Council Report: Vision To Unite The Primary Sector Launched

Agriculture Minister Damien O’Connor has welcomed the release of a bold new vision for the country’s vital food and fibre sector. More>>

ALSO:

Crown Accounts: Treasury HYEFU Sees Deficit Then Rising Surpluses

An operating balance before gains and losses deficit of $0.9 billion is forecast in the current year, before returning to a small surplus in 2020/21 which then grows to reach $5.9 billion (1.5% of GDP) in 2023/24. More>>

ALSO:

Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>

ALSO:

Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>

ALSO: