Kenneth Anderson, a former director and owner of failed clothing maker Lane Walker Rudkin Industries, has pleaded guilty to fraud charges today, leaving his unnamed co-accused to stand trial.
Kenneth Anderson, a former director and owner of failed clothing maker Lane Walker Rudkin Industries, has pleaded guilty to fraud charges today, leaving his unnamed co-accused to stand trial.
Anderson pleaded guilty to three representative charges brought under the Crimes Act of dishonestly using a document, relating to providing false financial statements to obtain and keep lending facilities with Westpac Banking Corp, the Serious Fraud Office said in a statement.
He also pleaded guilty to another charge over the use of false documents to obtain funds under a letter of credit facility provided by Westpac.
The trial of the remaining defendant, who has name suppression, began in the Christchurch District Court today.
"LWR employed many staff and enjoyed an international reputation," acting director Simon McArley said. "The scale and impact of Mr Anderson's fraud was extensive. SFO are pleased to bring some closure to his involvement in this investigation."
The clothing company was tipped into receivership in April 2009, and the SFO launched an investigation into LWR five months later. Anderson and the other individual were charged in July 2011.
(BusinessDesk)
