Alex Swney receives jail sentence

Former Chief Executive of Heart of the City, Alex Gordon Swney (57) has appeared in the Auckland District Court today. Mr Swney has been sentenced to five years and seven months’ imprisonment for charges brought respectively by the Serious Fraud Office (SFO) and the Inland Revenue.

In April, the SFO charged Mr Swney with one representative Crimes Act charge of dishonestly using documents to obtain $2.5 million. He pleaded guilty at his first appearance on 21 April admitting that while at Heart of the City he created fictitious invoices which, when submitted, resulted in payments into accounts controlled by him. The Inland Revenue charges were in relation to unpaid tax of approximately $1.8 million plus penalties and interest.

SFO Director, Julie Read said, “We are pleased this matter could be dealt with promptly together with the Inland Revenue case. This prosecution demonstrates that this sort of dishonesty will not be tolerated nor will it go unnoticed. Business can only prosper in an environment of integrity which is why New Zealand’s reputation as a safe place to invest and do business is so important and valuable.”

ENDS

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