Hamish Fletcher

Hamish Fletcher is a business reporter for the NZ Herald

Jailed property developer Mayer appeals

Property developer Malcolm Mayer being sentenced in the Auckland District Court for mortgage fraud. Photo / Richard Robinson
Property developer Malcolm Mayer being sentenced in the Auckland District Court for mortgage fraud. Photo / Richard Robinson

A bankrupt property developer and former New Zealand representative bridge player - who is serving a six year jail term for a $47 million mortgage fraud - is appealing against his conviction and sentence.

Malcolm Duncan Mayer, in his 50s, was last year found guilty of 26 charges in a Serious Fraud Office prosecution - 16 for dishonestly using a document and 10 for using forged documents after a lengthy trial.

At his sentencing in Auckland District Court during February he was jailed for six years.

Judge Brooke Gibson ruled he must serve at least three years.

Mayer's lawyer Greg Bradford told the Herald this week that Mayer was appealing both his conviction and sentence.

He was in custody pending that appeal, which no date has yet been set for.

Mayer, mostly acting with alleged co-conspirator Simon Turnbull, dishonestly used documents to obtain $47 million of loans from financial company Trustees Executors Ltd (TEL), which is chaired by former Prime Minister Jim Bolger and is more than 130 years old.

Mayer made loan applications to the company with false information to buy 26 Auckland properties between 2003 and 2007.

As a result, TEL suffered "colossal" losses of at least $19m, Judge Gibson said in February.

In some instances TEL was given documents which gave the impression someone unconnected to Mayer was buying a property when he or, allegedly, Turnbull was the purchaser.

This allowed them to side-step TEL's borrowing limit.

- NZ Herald

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