Property developer Glenn William Cooper, 39, has been remanded on bail for sentencing on March 8 after a Serious Fraud Office investigation into his dealings with a family with whom he built a relationship.
Cooper pleaded guilty in Manukau District Court yesterday to five charges of dishonestly using a document.
The charges resulted from an investigation into five property deals between July and September 2011 with members of one family.
The family members were sold properties bought in mortgagee sales by companies associated with Mr Cooper. His interest in them was concealed from banks and investors, and misleading loan applications were made to banks.
"The investors were sold on a fantasy that purchasing these investment properties would successfully consolidate debt and solve their problems," Simon McArley, the acting chief executive of the SFO, said.
Mr Cooper played on the affinity he had built with one family.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Sage isn’t “relatively safe” says Xero’s UK boss
- Banks don’t like tiny apartments: a flaw in the Auckland unitary plan
- Serious cybersecurity skills shortage sparks calls for better training
- Gaming company founder after acquisition: 'we will retain control'
- Len Brown’s parting gift to Auckland – refusal to chair UP recommendations debate
Most listened to
- Business Week in Review with Grant Walker & Andrew Patterson
- NBR Radio Rich List Special: Interviews with Rich Listers, philanthropists, property gurus, investors and much, much more
- “Trevor Mallard better watch out” - Matthew Hooton
- Rodney Hide on government spending
- Michael Coote thinks Donald Trump wants to flex his muscles by humiliatingly screwing over other countries