LAWFUEL – NZ Legal Jobs, Legal News – Former Murchison dairy king Avon Gillespie has been sentenced to a further 2½ years in jail for fraud totalling $2.5 million.
Gillespie is serving 4½ for drugs, firearms and assault charges.
His appearance yesterday in the Nelson District Court before Judge Tony Zohrab involved six counts of fraud against the Bank of New Zealand which occurred when he headed the Gillespie Group before it went into liquidation in 2005-06, owing creditors $37.5m.
Gillespie pleaded guilty to the six charges, which included using a letter to get a $930,000 restructured loan facility from the bank over a fictitious herd, using a false document to lease the cattle and dishonestly using three false grazing partnership invoices to get more than $165,000.
Serious Fraud Office prosecutor Luke Clancy told the court Gillespie’s offending had been premeditated, concealed and extensive.
“Investigations revealed that substantial drawings from the Gillespie Group funds were used for Avon Gillespie’s personal spending that can only be described as extravagant,” he said.