The Serious Fraud Office says it is satisfied with the sentencing of a Nelson man who cheated investors out of $5.3 million.
Philip Whitley, 49, was sentenced in the Nelson District Court on Tuesday to five years and three months in jail.
In 2006 Whitley claimed he had invented a breakthrough way to compress data, conning 490 investors.
SFO chief executive Adam Feeley says the Whitley case was consistent with the type of cases the office needs to focus on and it has made large-scale investment fraud a priority.
