Case begins against property developer

By ANNE GIBSON

A three-times bankrupt property developer appeared in the Auckland District Court yesterday on charges including perjury and contributing to insolvency by gambling and extravagant living.

Graeme Raymond, aged 37, whose company collapse left an incomplete motel to decay beside the Central Auckland police station, was remanded on bail by Judge Avinash Deobhakta for an August 18 depositions hearing in the High Court.

He is also accused of concealing property under insolvency laws and making a misleading statement to the Official Assignee, who brought the charges under the Insolvency Act and the Crimes Act.

Raymond, previously of the Knightsbridge apartments near Karangahape Rd, is represented by George Bogiatto. He denies the charges.

First Investments had been developing the motel next to the police station in Hobson St but builders walked off the job at Christmas 1997 and the company collapsed the following February.

Since then the building has become one of Auckland's worst eyesores.

The 55-unit, six-level structure has no roof. Timber framing has warped and twisted due to exposure to the elements.

Another Auckland developer, David Gaze, bought the building from the receivers of First Investments last December for $1.6 million. He has yet to announce what he plans to do with it.