A former chartered accountant has been sentenced to three years and nine months’ imprisonment for stealing approximately
$1.01 million from his clients.
Christopher George Wright (64) misappropriated refunds from his clients on whose behalf he filed tax returns and
received refunds.
The tax refunds intended for Mr Wright’s clients were deposited in his accounting practice’s trust account. The Auckland
man spent the refunds on gambling, friends and family, school fees and loan repayments. He defrauded about 245 clients
over a six-year period from January 2010 to April 2016.
Mr Wright was sentenced today at the Auckland District Court. He had pleaded guilty previously to one representative
charge of ‘Theft by person in special relationship’ brought by the Serious Fraud Office.
The Director of the SFO, Julie Read, said, “The sentence reflects the seriousness of offending which was premeditated,
repetitive and long running. Mr Wright breached his professional duties and deceived his clients for personal gain of
more than $1 million. His offending was a significant breach of trust and he will now suffer the consequences of his
actions. The prosecution of such matters is an important aspect of protecting New Zealand’s reputation as a safe place
to invest and do business.”
Background to investigation
Following a complaint made to New Zealand Institute of Chartered Accountants (NZICA), Christopher Wright’s membership of
the institute was suspended on 26 April 2016.
The Professional Conduct Committee subsequently filed charges alleging ‘professional misconduct’ and ‘negligence or
incompetence’ that where heard by NZICA’s disciplinary tribunal in December 2016. Mr Wright pleaded ‘guilty by
correspondence’ to those charges brought before the disciplinary tribunal.
The disciplinary tribunal removed Mr Wright’s name from the register of NZICA members and imposed costs of $56,853.Crimes Act offences220 Theft by person in special relationship
(1) This section applies to any person who has received or is in possession of, or has control over, any property on
terms or in circumstances that the person knows require the person—
(a) to account to any other person for the property, or for any proceeds arising from the property; or
(b) to deal with the property, or any proceeds arising from the property, in accordance with the requirements of any
other person.
(2) Every one to whom subsection (1) applies commits theft who intentionally fails to account to the other person as so
required or intentionally deals with the property, or any proceeds of the property, otherwise than in accordance with
those requirements.
(3) This section applies whether or not the person was required to deliver over the identical property received or in
the person’s possession or control.
(4) For the purposes of subsection (1), it is a question of law whether the circumstances required any person to account
or to act in accordance with any requirements.