The owner of Lane Walker Rudkin has pleaded guilty to fraud charges involving $118 million over the collapse of the Canterbury clothing manufacturer.
Kenneth James Anderson on Monday morning entered guilty pleas in the Christchurch District Court following a two-year investigation by the Serious Fraud Office into the company's collapse in 2009.
Anderson pleaded guilty to three representative charges brought under the Crimes Act of dishonestly using a document.
The 66-year-old also pleaded guilty to a further representative charge relating to the use of false documentation to obtain funds under a letter-of-credit facility provided by Westpac.
SFO acting director Simon McArley says LWR employed many staff and enjoyed an international reputation, and the scale and impact of Anderson's fraud was extensive.
Mr McArley says the SFO will be seeking a lengthy jail sentence.
Another defendant continues to face charges at a trial under way in the Christchurch District Court.