Man found guilty of fraud awaits sentencing

Man found guilty of fraud awaits sentencing

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Wellington, August 22, 2019

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

The Charges

Mr Robertson was found guilty of the following charges, which were brought by the Crown under the Crimes Act 1961: (a) 23 counts of theft by a person in a special relationship under section 220 of the Crimes Act 1961 (b) 11 counts of obtaining by deception under section 240 of the Crimes Act 1961 (c) 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Mr Robertson was also found to have withdrawn funds from credit card accounts of some clients without the client’s authority and knowledge.

FMA Head of Enforcement Karen Chang 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 October 30, 2019.

Source: Financial Markets Authority, Wellington

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