Sharechat Logo

Lane Walker Rudkin owner Anderson pleads guilty to fraud

Monday 14th October 2013

Text too small?

Kenneth Anderson, a former director and owner of failed clothing maker Lane Walker Rudkin Industries, has pleaded guilty to fraud charges today, leaving his unnamed co-accused to stand trial.

Anderson pleaded guilty to three representative charges brought under the Crimes Act of dishonestly using a document, relating to providing false financial statements to obtain and keep lending facilities with Westpac Banking Corp, the Serious Fraud Office said in a statement.

He also pleaded guilty to another charge over the use of false documents to obtain funds under a letter of credit facility provided by Westpac.

The trial of the remaining defendant, who has name suppression, began in the Christchurch District Court today.

"LWR employed many staff and enjoyed an international reputation," acting director Simon McArley said. "The scale and impact of Mr Anderson's fraud was extensive. SFO are pleased to bring some closure to his involvement in this investigation."

The clothing company was tipped into receivership in April 2009, and the SFO launched an investigation into LWR five months later. Anderson and the other individual were charged in July 2011.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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:

NZ dollar rises as US-China trade, Brexit tensions ease
SkyCity shares hit 7-week low as fire encapsulates convention centre
Wrightson showcases Fruitfed Supplies as horticulture stands out
Fonterra rivals fear dairy giant will get leg up from law overhaul
Wellington Drive remains in the black as it raises operating forecast
OMV plans further maintenance at Pohokura
Sky continues sports drive with extension to netball rights
Apple's asset-shuffling puts $270m value on PowerbyProxi
Fonterra lifts payout forecast on improving global dairy prices
22nd October 2019 Morning Report

IRG See IRG research reports