Sharechat Logo

Rural fraudster gets five years

By Chris Hutching

Friday 20th December 2002

Text too small?
Fairlie fraudster and bankrupt Michael Hector Anderson (57) has been sentenced to five years' jail by district court judge Murray Abbot for his part in a scam where creditors lost more than $11 million after the collapse of a company that converted South Canterbury farms for dairying.

His wife, Pamela Isobel Anderson (54), was also found guilty and jailed for three years on charges of conspiracy to defraud.

The scheme involved a tame valuer who pumped up the values of the farms which were later found to be either unsuitable for dairying or where assets and stock were missing. The prosecution gave evidence of highly leveraged deals and deception of creditors and lenders, culminating in a Serious Fraud investigation. The pair had denied any conspiracy and Michael Anderson claimed he acted on his own volition while Pamela was merely a typist.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director