Director responsible for finances guilty of fraud

Director responsible for finances guilty of fraud

Former director of MediaWeb, Victor John Clarke, has pleaded guilty in the Auckland District Court today to Crimes Act charges laid by the Serious Fraud Office (SFO).

Mr Clarke faced two false accounting charges, one charge of using a forged document and one charge of obtaining by deception. The charges related to his conduct as a director of the company MediaWeb Limited (MediaWeb) where he was responsible for overseeing the accounting and financial aspects of the business.

Mr Clarke pleaded guilty to falsifying financial statements to present a positive picture of MediaWeb’s financial position, creating fictitious entries in MediaWeb’s accounting system to obtain money from a lending institution, forging emails, and failing to disclose the true financial position of MediaWeb to obtain funding from a Trust. Mr Clarke’s offending enabled him to obtain money and access to loan facilities of approximately $2.2 million.

SFO Director, Julie Read said, “Mr Clark’s plea at this early stage of the proceedings will be a relief to witnesses and victims who would have otherwise been subjected to considerable stress in the course of a trial.”

Mr Clarke will appear for sentencing at the Auckland District Court on 11 December.

ENDS

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