The former director of a New Zealand business magazine publishing company has been charged with fraud involving $2.2 million dollars.
The former director of a New Zealand business magazine publishing company has been charged with fraud involving $2.2 million dollars.
The Serious Fraud Squad (SRO) charged 61-year-old Victor John Clarke, a former director of failed media company MediaWeb, with using a forged document and obtaining by deception, and two charges of false accounting.
Auckland District Court heard that Clarke made 62 fake invoices in the company's accounting system, totalling $976,327.
The SFO alleged that Clarke falsified financial statements to present a positive picture of MediaWeb’s financial position, created fictitious entries in MediaWeb’s accounting system to obtain money from a lending institution, forged emails, and failed to disclose the true financial position of MediaWeb to obtain funding from a Trust. Clarke’s alleged offending enabled him to obtain money and access to loan facilities of approximately $2.2 million.
Mediaweb went into liquidation last year with creditors reportedly owed $2.2 million. The list of creditors included Inland Revenue and the Auckland University of Technology.
The company, founded by Clarke and Toni Myers, produced magazine titles including NZ Management Magazine, AdMedia, Hospitality, OnFilm and Catering Plus.
SFO Director, Julie Read said, “Financial crime can have an impact on the cost of doing business for the whole community as well as causing harm to the lives and prosperity of those who are the victims of the crime. The SFO is working hard to combat these crimes to ensure New Zealand is a safe place to do business.”
Clarke is due to reappear in court next month.