A former Mighty River Power engineer jailed for defrauding the state-owned enterprise of more than $2 million has been refused parole at his first hearing.
Paul Kenneth Rose was last year jailed for three years and two months after being found guilty by a jury at an Auckland High Court trial of nine representative charges of obtaining by deception.
The Crown's case was that over several years Rose created various companies in his wife Jane Rose's name in order to sell parts to Mighty River Power (MRP) - now called Mercury.
Rose, in charge of ordering parts from suppliers, sold machinery at inflated prices without disclosing his connection to the companies.
The total loss to MRP was estimated to be anywhere between $60,000 and several hundred thousand dollars.