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Hot Topic NBR Focus: GMO
Hot Topic NBR Focus: GMO
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X-ray company director faces 21 fraud charges


$6.5 million loan obtained under false pretences.

NZPA
Thu, 28 Apr 2011

A former director of a company involved in providing x-ray equipment has appeared in North Shore District Court, after the Serious Fraud Office (SFO) alleged he created false documentation with the aim of overstating the strength of his financial position.

Former Koru Medical Radiology director Alan John McMillan's appearance related to 21 charges brought by the SFO, which said the false documentation included financial statements and sale and purchase agreements.

It was alleged that McMillan used the false documents to support applications for finance and extensions to overdraft facilities from the Bank of New Zealand, Westpac Bank and Marac Finance, the SFO said today.

Loans obtained by McMillan totalled $6.5 million. He also obtained overdraft facilities totalling $1.8 million, some of which were extended by the alleged use of false documentation.

McMillan was remanded on bail to May 20.

NZPA
Thu, 28 Apr 2011
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X-ray company director faces 21 fraud charges
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