Man accused of $1.4 million theft
Multiple alleged victims in Waikato and Bay of Plenty.
A 60-year-old man is facing five charges for allegedly swindling investors of about $1.4 million between 2008 and 2013.
The Serious Fraud Office says Jonathan Graham West appeared in the Tauranga District Court yesterday to face five charges of theft by person in a special relationship.
Mr West was remanded on bail without plea, before his next appearance on March 11.
The charges relate to his conduct as a director of The Investment Centre Limited and Matrix Futures Limited, which he operated between 1994 and 2013.
The SFO says Mr West offered financial planning advice, investment strategies and investment reporting for clients mostly situated in the Waikato and Bay of Plenty.
But while the clients initially saw “satisfactory returns,” it is alleged that between 2008 and 2013 Mr West used clients’ funds outside the agreed terms or for his own purposes.
SFO director Julie Read says its investigations allege he stepped outside the parameters of the authority his clients had given him.
“Unfortunately, given his previous sound advice and results, we believe Mr West’s victims had very little reason not to trust him.”
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Staff Reporter
Tue, 23 Feb 2016
Tue, 23 Feb 2016
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Man accused of $1.4 million theft
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