Guilty Belgrave Finance director off to jail

Former Belgrave Finance Shane Joseph Buckley was sentenced to three years in jail for theft relating to  $18 million of loans made by the now-collapsed finance company.

Buckley (44) was sentenced in the Auckland District Court today after pleading guilty on May 19 to theft charges, laid by the Serious Fraud Office.

They include a charge of theft by a person in a special relationship and four charges of false statement by promoter under the Crimes Act.

He also pleaded guilty to one Securities Act charge of making an untrue statement and one Companies Act charge of making a false statement to a trustee – a charge brought by the Financial Markets Authority in a joint prosecution.

The charges related to more than $18 million of loans made by Belgrave to various entities between June 2005 and March 2008.

Buckley’s fellow Belgrave director, Stephen Charles Smith (43), and an associate, Raymond Tasman Schofield (49), face trial on similar charges in April next year.

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