A woman allegedly involved in a multi-million-dollar mortgage fraud scheme with her three sons had pleaded not guilty.
Serene Peters was arrested at the border in August after spending nearly three years overseas. She was charged with obtaining by deception in relation to a $1.8 million investment fraud.
The Serious Fraud Office alleged that Peters, alongside three of her sons and an associate, obtained credit and properties by making false claims on home loan applications and to conveyancing solicitors – often supported by fake documents.
In April 2024, the SFO said the group had obtained more than $8.6 million in lending and attempted to obtain a further $3 million.
Peters left the country in September 2023 and was arrested in Auckland on her return on August 6.
She entered a plea of not guilty and will reappear in court on January 26 next year.
Two of her sons have already pleaded guilty to charges for their roles in the scheme, while a third has also been charged.
According to the New Zealand Herald, Gerard Peters faces the most charges. It reported he left the country in 2019 shortly after investigations began, with a warrant for his arrest.
In May, Christopher Peters pleaded guilty to five charges of obtaining by deception in two schemes. In one, he was handed $4.47 million in bank loans for four residential properties by making false representations to banks and conveyancing solicitors.
Christopher also admitted to making false representations to obtain $1.8 million from an investor – offering investments in low-risk share and bond portfolio securities held by fund managers in Singapore.
To encourage the investor, Christopher claimed the funds would be insured by a policy issued by the bogus "Lloyd's of London".
His brother Francis pleaded guilty to three charges of obtaining credit by deception and one charge of obtaining property by deception in April 2024.
Francis was sentenced to nine months and two weeks' home detention, with Christopher due to appear for sentencing on October 30.
Associate Gur Raj Bhachu pleaded guilty to 12 charges relating to four properties involved in the alleged mortgage fraud in September 2025.
Bhachu used false documents to convince banks and conveyancing solicitors to give him loans totalling $2,862,650 for three residential properties and gain control of properties for himself and others.
The fake documents related to business income and cash gifts, the true borrower, and deposits paid.
Bhachu was sentenced to nine months' home detention.
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