A New Zealand lawyer has pleaded guilty to a charge of deception in a serious fraud matter.
Lawyer Timothy Upton Slack was charged along with three other men by the Serious Fraud Office, as they stand accused of making false statements and using forged documents in order to obtain a credit facility from ANZ bank. Slack and his co-defendants (who work in property) were trying to obtain a loan on behalf of a company, Emily Projects, to develop the Waldorf Celestion Apartment Hotel in Auckland.
Slack has pleaded guilty to a charge of deception contrary to the New Zealand Crimes Act, and will be sentenced next month. The other three men will all face trial in June 2018.
The bank loan for the development was allegedly worth around $40m. SFO director Julie Read said the four defendants were accused of conspiring to mislead ANZ, and the bank was "entitled to expect that businesses will provide accurate information in support of their loan applications and a failure to do so may have cost implications for all."
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Lawyer Timothy Upton Slack was charged along with three other men by the Serious Fraud Office, as they stand accused of making false statements and using forged documents in order to obtain a credit facility from ANZ bank. Slack and his co-defendants (who work in property) were trying to obtain a loan on behalf of a company, Emily Projects, to develop the Waldorf Celestion Apartment Hotel in Auckland.
Slack has pleaded guilty to a charge of deception contrary to the New Zealand Crimes Act, and will be sentenced next month. The other three men will all face trial in June 2018.
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With the bank loan up in the air, the developers opted for a more arty design |
The bank loan for the development was allegedly worth around $40m. SFO director Julie Read said the four defendants were accused of conspiring to mislead ANZ, and the bank was "entitled to expect that businesses will provide accurate information in support of their loan applications and a failure to do so may have cost implications for all."