Business Editor for the NZ Herald

Huljich set to plead guilty to KiwiSaver charges

Peter Huljich. File photo / Richard Robinson
Peter Huljich. File photo / Richard Robinson

The Financial Markets Authority case against Huljich Wealth Management and its director Peter Huljich is nearing an end, with Huljich expected to plead guilty in the Auckland District Court next week.

Huljich was due in court today to enter a plea, but was excused after an agreement was reached with the FMA to amend one charge and withdraw seven others against him.

He will appear in court next week, where the Judge Kiernan said a guilty plea was expected from Huljich.

The prosecution and defence are due to meet this week to finalise the amendments to the charges and then file them with the court next week.

Following the amendments, Huljich will face one charge under section 59 of the Securities Act, while the company faces two charges - one under section 59 and another under section 58.

The charges relate to claims investors were misled by misrepresentations of the performance of the company's KiwiSaver scheme in offer documents.

If a guilty plea is entered, Huljich is likely to reappear in December for sentencing. The maximum penalty is a fine of $300,000.

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter


© Copyright 2017, NZME. Publishing Limited

Assembled by: (static) on production bpcf03 at 29 Apr 2017 22:58:20 Processing Time: 420ms