Rural fraudster gets five years

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.

     

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Genesis completes NZ$100m Placement
MCY - Invests heavily in renewables; delivers strong performance
PFI Announces Interim Results
February 24th Morning Report
THL - FY26 Interim Results: underlying NPAT up 11%, 3cps dividend
FPH updates FY26 revenue and earnings guidance
February 23rd Morning Report
February 20th Morning Report
SCL - Chief Financial Officer Transition
BLS - Strong YTD performance