A former financial adviser has pleaded guilty to charges relating to the theft of $2.6 million.
Andrew Hrothgar Robinson, a former director of Strategic Planning Group, had been due to go on trial in the High Court in Auckland next week, but this morning pleaded guilty to six charges.
The Serious Fraud Office says he stole investor funds to repay investments made by others and also spent some of the money on himself and business expenses.
One of the charges relates to selling an investor's shares without their permission.
Robinson also pleaded guilty to two charges of theft in a special relationship and dishonestly using documents.
He is disputing the amount of money that was spent on business costs and will be back in court next month for a disputed facts hearing.
Justice Moore remanded him in custody in the meantime after the prosecutor, Rachel Reed, said a prison sentence was inevitable.