4 Apr 2014

Gas company pair guilty of fraud

10:20 pm on 4 April 2014

Two former executives of E-Gas have been found guilty of fraud involving up to $17 million.

Ronald Peter Rosenberg, 72 and Sydney Lio Hunt, 46, appeared in Wellington District Court on Friday where they faced 82 criminal charges of dishonestly using a document.

Rosenberg is the former managing director of E-Gas, and Hunt the former general manager.

Serious Fraud Office director Julie Read said between April 2005 and October 2008, the pair deliberately under-reported the quantity of gas supplied to retail customers by approximately 950,000 gigajoules, worth about $8.74 million.

Penalties were also avoided to the value of about $8.67 million.

The charges carry a maximum sentence of seven years in jail. Judge Bruce Davidson remanded the pair on bail for sentencing on 29 May.