A Hamilton accountant has been charged over the alleged theft of more than $1.3 million in funds from three clients.
David Waine appeared in Hamilton District Court on Wednesday on three charges of theft by a person in a special relationship and one of false accounting.
The Serious Fraud Office alleged Waine offered investment opportunities to one client through his company Matley Ltd, 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 was alleged only around $25,000 was invested as promised.
SFO director Karen Chang said trusted professionals abusing privileged access to sensitive information was an "egregious breach" of trust.
"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."
Waine would next appear in court on August 25.
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