Former financial adviser jailed

by NZ Adviser27 Oct 2015
A former company director and financial adviser has today been sentenced in the Auckland High Court, the Financial Markets Authority announced.

Andrew Hrothgar Robinson was sentenced to 12 months’ imprisonment for his involvement as a director of Strategic Planning Group Limited (SPG) and SPG Investment Company No.1 Limited (SPGI).

The sentence is in addition to the six-year term imposed in July this year on fraud charges laid by the Serious Fraud Office (SFO).

Robinson had earlier pleaded guilty to charges laid under the Financial Reporting Act, the Financial Advisers Act and the Financial Service Providers (Registration and Dispute Resolution) Act.

The charges relate to Robinson providing a broking service without being registered, knowingly making a false statement in his application to become an Authorised Financial Adviser and making false statements in the 2008 and 2009 SPGI financial statements. 

The charges followed investigations by the FMA and the SFO into the activities of SPG and SPGI, which began in 2012.

The second director of SPGI, Mark Andrew Turnock, will be sentenced at the Auckland High Court on 24 November 2015. He faces one charge of making false statements in the 2008 and 2009 SPGI financial statements. 

The FMA wasn't available for further comment at the time of publication.

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