Failed property developer Friedlander sentenced for fraud

Failed property developer and insurance broker Marcus Julian Friedlander (58) has been sentenced to seven month’s home detention at the Auckland High Court.

Friedlander pleaded guilty to creating a false debt to avoid bankruptcy, with the assistance of associate Ralph Vuletic (31) in August.

Friedlander had a failing property development and insurance brokering businesses and was in debt to the tune of more than $10 million. He formulated a scheme to attempt to avoid bankruptcy by creating a false debt and fraudulent paper trail.

Vuletic, a budding property developer whose family owned valuable sections of land in Auckland, pleaded guilty in October and was sentenced to nine month’s home detention.

The Serious Fraud Office brought charges against the pair under the Crimes Act in January 2011.

They faced 25 charges under the Crimes Act of attempting to pervert the course of justice, using a document for the purpose of obtaining pecuniary advantage and uttering a forged document.

SFO acting chief executive Simon McArley said Friedlander and Vuletic had executed an elaborate scheme to avoid Friedlander's bankruptcy and short change his creditors.

The guilty pleas marked the end of nine-and-a-half-year investigation and prosecution for the SFO and would go some way to restoring confidence in fairness of the insolvency regime, he says.

gbond@nbr.co.nz

This article is tagged with the following keywords. Find out more about My Tags

Comment & Question

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7856 0.0005 0.06%
AUD 0.8969 0.0010 0.11%
EUR 0.6216 0.0000 0.00%
GBP 0.4895 0.0001 0.02%
HKD 6.0940 0.0040 0.07%
JPY 84.2790 0.1570 0.19%

Commods

Commodity Price Change Time
Gold Index 1241.1 -7.450 2014-10-22T00:
Oil Brent 84.7 -1.510 2014-10-22T00:
Oil Nymex 80.5 -1.970 2014-10-22T00:
Silver Index 17.2 -0.310 2014-10-22T00:

Indices

Symbol Open High Last %
NZX 50 5279.7 5299.9 5279.7 0.25%
NASDAQ 4429.2 4435.9 4419.5 -0.83%
DAX 8934.5 8957.2 8887.0 0.60%
DJI 16615.3 16653.9 16614.8 -0.92%
FTSE 6372.3 6401.5 6372.3 0.43%
HKSE 23296.0 23397.2 23404.0 -0.51%
NI225 15093.8 15232.5 15195.8 -0.61%