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Former Investment Company Executive Facing Fraud Charges Named
A former executive who is alleged to have fraudulently obtained more than $2 million from the investment company he worked for can now be named after the Court lifted name suppression.
The Serious Fraud Office has brought 51 charges of theft by a person in a special relationship and 51 charges of false accounting against Neil Barnes, who currently resides overseas. A warrant has been issued for Mr Barnes’ arrest.
Mr Barnes was Chief Executive Officer of Nelson-based Investment Services Limited (ISL) and three associated property investment companies (ISL Group) between 2007 and 2018.
Between 2011 and 2018, he is alleged to have made 51 payments from company bank accounts into his personal accounts and incorrectly recorded these in ISL’s ledgers.
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