A former financial advisor who stole $3 million of investor funds has been sentenced to six years in prison.
The High Court in Auckland Photo: RNZ
Andrew Hrothgar Robinson, a director of Strategic Planning Group and SPG Investment Company Number One, was found guilty of five charges of theft by a person in a special relationship and one of dishonestly using a document.
The charges were laid by the Serious Fraud Office (SFO).
The High Court in Auckland heard Robinson stole investors' funds to repay the investments of other investors and to pay for some business and personal expenses between 2010 and 2012.
The 42-year-old father of four also made false statements in various investment reports to hide the true picture from investors.
Thirteen victims had made investments of up to $500,000.
Judge Matthew Muir said Robinson's activities amounted to a Ponzi scheme and many elderly and vulnerable peoples' lives had been decimated.
He said he grossly betrayed the trust of investors and robbed many of them of their golden years.
