28 Apr 2011

Fraud charges brought by SFO

4:38 pm on 28 April 2011

The former head of a radiology equipment supply company has been charged by the Serious Fraud Office with defrauding two banks and a finance company of over $8 million.

Alan John McMillan, who founded Koru Medical Radiology Limited in 2006, faces 21 charges - including creating false bank statements and sale and purchase agreements.

The SFO alleges he did that to overstate his financial position and secure loans of $6.5 million and overdraft extensions of $1.8 million from BNZ, Westpac and Marac Finance.

Mr McMillan appeared in the North Shore District Court on Thursday.

He was remanded on bail until late May.