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Third SCF fraud accused outs himself

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Mon, 23 Jan 2012 9:02p.m.

Another of the accused in New Zealand's biggest fraud case has requested his name suppression to be lifted.

Lachie McLeod, the former chief executive of South Canterbury Finance, was one of five people charged by the Serious Fraud Office with fraud and false accounting practices amounting to $1.7 billion.

The money includes lost investment funds and a government bailout.

McLeod's lawyer Stephen Rennie said his client was no longer seeking name suppression, Radio New Zealand reported.

Mr Rennie said McLeod never thought there had been any wrongdoing, and relied on the integrity of the late Alan Hubbard, the board and the company's advisers.

SCF's former chief financial officer Graeme Brown and Timaru accountant Terrence Hutton applied last week to have their name suppression lifted.

Two others still have name suppression.

South Canterbury Finance was placed under statutory management in early 2010.

Hubbard, who had been chairman of the company for 20 years, was charged with 50 counts of fraud in June 2011. He died in a car crash last September.

Mrs Hubbard, who was neither a director nor an adviser to the company, has not been charged.

NZN

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