Second developer sentenced to home detention

Monday 17 December 2012

A second property developer has been handed a home detention sentence for his role in an elaborate fraud.

By The Landlord

Marcus Julian Friedlander was sentenced to seven months home detention in the Auckland High Court today.

Charges were brought against Mr Friedlander and an associate, Ralph Vuletic, in January 2011 by the Serious Fraud Office.

Both men faced charges under the Crimes Act of attempting to pervert the course of justice, using a document for the purpose of obtaining pecuniary advantage and uttering a forged document.

In August this year, Friedlander pleaded guilty to creating a false debt to avoid bankruptcy, with the assistance of Vuletic.

At that time, Friedlander had a failing property development and insurance brokering businesses and was in debt to the tune of over $10 million.

He formulated a scheme to attempt to avoid bankruptcy by creating a false debt and fraudulent paper trail.

Vuletic pleaded guilty in October 2012 and was sentenced to nine months home detention.

Comments from our readers

No comments yet

Sign In / Register to add your comment

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.

Commercial

Resilience needed in face of change

The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.

Mortgages

Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer