Guilty Plea For Multiple Fraud Charges

Guilty Plea For Multiple Fraud Charges

John Grant Fagan (54) has entered a guilty plea in the Palmerston North District Court to charges laid by the Serious Fraud Office (SFO). 

Mr Fagan was charged in February 2013 and has pleaded guilty to 15 offences under the Crimes Act of false statement by promoter, forgery and using forged documents.

The charges arose out of Mr Fagan’s attempts to promote a number of technology and property companies between 2009 and 2011. He used false and forged documents which overstated the value or success of the businesses, in an attempt to encourage people to invest with him. Mr Fagan’s actions relate to existing investments of approximately $1.3 million, investments obtained of approximately $750,000 and attempts to obtain investments of approximately $4.5 million from various individuals and entities.   

Mr Fagan has previously appeared before the Court on two occasions in relation to fraud offending.

Acting SFO Chief Executive, Simon McArley said, “This current offending has shown Mr Fagan to be a significant risk to the commercial community. I believe it is important that SFO be able to respond effectively to offending like this in order to protect the integrity of our commercial environment and ensure that genuine entrepreneurs and innovators are able to access the capital they require." 

Mr Fagan has been remanded on bail and will next appear before the Court on 29 November.

ENDS

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