The former managing director of failed Wellington gas retailer E-Gas says he denies all charges relating to an alleged $17 million fraud.
Former managing director Ronald Rosenberg made a brief appearance in Wellington District Court this morning, along with the company's former general manager Sydney Lio Hunt.
Each have been charged by the Serious Fraud Office (SFO) with 41 counts relating to the dishonest use of documents.
The SFO laid the charges in July after an investigation alleged that between April 2005 and October 2008 the two men deliberately under-reported the quantity of gas supplied to its retail customers.
E-Gas allegedly under-reported its gas consumption to the figure of about $8.74m and penalties were avoided to the figure of about $8.67m.
The charges carry a maximum sentence of seven years' imprisonment.
Judge Peter Butler remanded both men on bail until next week for a committal hearing.
Outside court Rosenberg's lawyer Richard Laurenson said, on behalf of his client, that he denied all charges.
He would not comment any further.
Hunt refused to comment.