Adam Feeley

Wellington, Oct 8 NZPA - John Gray, the former accountant for National Finance 2000 Ltd, pleaded guilty in Auckland District Court to theft by a person in a special relationship and a charge of false accounting, the Serious Fraud Office (SFO) said today.

The theft charge related to misuse of National Finance funds in breach of its trust deed requirements and the false accounting charge related to concealment of the true recipient of funds by creating a false document.

"Results such as this demonstrate that there are serious consequences for breaching the law and help ensure the investing public can have greater confidence in the integrity of our financial markets," said SFO chief executive Adam Feeley.

Former National Finance director Trevor Ludlow has also been charged by the SFO with offences relating to the misuse of funds. A trial date has yet to be set for him.