Former Rockforte boss released on parole – vows never to return to finance
Nigel O'Leary said he was motivated by greed and selfishness.
A former Rockforte Finance director has been released from prison less than 18 months into his sentence.
Nigel O'Leary, 58, was convicted and sentenced to four years’ jail after pleading guilty to nine charges in late October 2013, which led to investors losing $3.8 million.
His convictions were for theft by a person in a special relationship, obtaining by deception, false statement by promoting and false accounting; all arising from the failure of Rockforte Finance.
Mr O’Leary – whose sentence was due to end in late October 2017 – has vowed to never return to finance, despite being offered employment by an overseas company. The company of the investor and its country has been withheld.
Mr O’Leary told the Parole Board, chaired by Justice Marion Frater, his offending was not just a case of bad decisions but of continued, deliberate, fraudulent decisions.
He said he was motivated by greed, selfishness and the need to generate income to support the comfortable lifestyle to which he had become accustomed.
The Serious Fraud Office had alleged that a significant portion of investor money was used to fund the directors' personal business interests in Gisborne Haulage and Michael Ward 1969, which operated the Jean Jones label before the chain was sold by its receivers. Investor losses amount to $3.8 million.
Jason Walls
Tue, 19 May 2015
Tue, 19 May 2015
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Former Rockforte boss released on parole – vows never to return to finance
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