Fraudster Shaun Morgan was convincing because he allowed his victims to believe what they read on the internet.
Unfortunately they didn't realise he was behind a slew of fake press releases that painted him as a high-flying international banker.
Morgan and his bogus banks appear in dozens of releases issued by companies paid to post them online. Among them are claims Morgan has provided massive funding and lending commitments to a range of businesses.
Many of those businesses never existed, yet press releases stated Morgan was behind deals worth more than $50 million.
One release claims Morgan pledged $8.7m to a company called New Zealand Petroleum Developments. There is no record of the business in the New Zealand Companies Office.
- HERALD ON SUNDAYBy David Fisher @@DFisherJourno Email David