The Serious Fraud Office has filed charges against a Hamilton accountant alleging he stole more than $1.3 million in funds from three clients.
David Waine faces three charges of theft by a person in a special relationship and one of false accounting. He appeared in Hamilton District Court on Wednesday.
Through his company Matley Ltd, Mr Waine is alleged to have offered investment opportunities to one client, then used the client’s money for other purposes including repaying personal debts, business expenses and replacing money taken from other clients. Of the client’s $1.09 million, it is alleged only around $25,000 was invested as promised.
He is also alleged to have taken more than $240,000 from other client funds he had access to, to pay for personal expenses and costs for his own business.
“Trusted professionals, such as accountants, are granted privileged access to a client’s most sensitive information. Abusing this access is an egregious breach of the trust placed in them by clients,” says SFO Director Karen Chang.
“Allegations of fraud undertaken by trusted professionals or professional enablers is one of our strategic areas of focus, reflecting that it is critical to protect the integrity of our professional institutions.”
Mr Waine’s next appearance is scheduled for 25 August.
