Fraud charges have been laid against a former foreign exchange trader.
Rene Alan Chalmers is facing 15 charges following a Serious Fraud Investigation, including theft, dishonesty and making untrue statements when acting as a currency trader, and buying three properties in 2011 and 2012.
The SFO alleges he took money from family members and friends to trade foreign exchange through a company he co-owned called Chalmers Cameron Investments, but used $837,000 for his own personal use and overstated investors positions by an estimated $4 million.
Chalmers Cameron Investments went into voluntary liquidation in 2011 after he returned from living in the United Arab Emirates for four years, owing $US5 million.
Mr Chalmers has been remanded on bail and will reappear at Auckland District Court on 13 February.
