The director of Lane Walker Rudkin Industries (LWR) and one other employee are facing 90 fraud charges relating to the collapse of the company.
Director Kenneth James Anderson is facing 61 charges brought under the Crimes Act relating to allegations that he fabricated financial documents in order to obtain and retain lending facilities from Westpac Bank ultimately totalling $118 million.
Mr Anderson is facing a further 21 charges of alleged document fabrication to obtain funds under a letter of credit facility provided by Westpac.
Another individual from the company who has name suppression is facing eight charges in relation to the letter of credit facility.
Acting Director of the Serious Fraud Office, Simon McArley, says the alleged fraud has had a profound effect on the Canterbury region
“While its demise is unfortunate for the Canterbury people, upholding the integrity and credibility of New Zealand businesses is essential for our future success”.
LWR was placed into receivership in April 2009. Fraud investigations began in September 2009 after the company’s receivers, BDO Spicers, raised concerns.
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