INDEPENDENT NEWS

SFO took 2 years to bring case against disgraced accountant

Published: Wed 12 Sep 2018 06:25 PM
SFO took two years to bring case against disgraced accountant
By Nikki Mandow
Sept. 12 (BusinessDesk) - The Serious Fraud Office won’t say why it took so long to bring a case against an accountant who admitted taking client money and was thrown out of the industry body in 2016.
Christopher George Wright was suspended by the New Zealand Institute of Chartered Accountants in May 2016 and kicked out in December that year, after pleading guilty to the tribunal to stealing funds from clients over an eight-year period.
Now the SFO has brought charges against Wright, alleging the 62-year-old filed tax returns on behalf of his clients and misappropriated refunds of about $1.01 million. The SFO alleges Wright defrauded 245 clients over a six-year period from January 2010 to April 2016.
Spokesman Henry Acland says the SFO won’t comment on the case until after any sentencing. But the office is asking any of Wright’s clients who think they might have been defrauded to make contact with it.
In December 2016, the Institute of Chartered Accountants’ disciplinary tribunal said Wright acknowledged he had been taking client monies for approximately eight years.
"The tribunal finds that the member's conduct - the misappropriation of at least $280,000 over approximately 18 months and his admission that he had been taking client monies over approximately eight years - constitutes misconduct in a professional capacity," the decision said.
This week Wright appeared in the Auckland District Court charged by the SFO with "theft by a person in a special relationship". He didn’t enter a plea and was remanded on bail until Oct. 4.
(BusinessDesk)
BusinessDesk
Independent, Trustworthy New Zealand Business News
The Wellington-based BusinessDesk team provides a daily news feed for a serious business audience.
Contact BusinessDesk
Email:

Next in Business, Science, and Tech

Surge funding for kauri dieback and myrtle rust research
By: New Zealand Government
Spark sets 5G launch date, but without any 5G spectrum
By: BusinessDesk
Commerce Commission to appeal Steel & Tube sentence
By: Commerce Commission
Rapid rent increases a product of bipartisan inaction
By: Auckland Action Against Poverty
Turning the Tide in the Battle Against Kauri Dieback
By: New Zealand First Party
Kauri dieback and myrtle rust research to be accelerated
By: Biological Heritage National Science Challenge
New Hope for Kauri Dieback Research Programme
By: The Tree Council Inc
Emirates Team NZ To Use Spark’s 5G Network In Cup Defence
By: Spark
Rents on the rise as Govt hurts low-income families
By: New Zealand National Party
Rental Market Statistics: October Report
By: Oxygen
Indirect payment of letting fees may be unintended outcome
By: NZ Property Investors Federation
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media