Accountant jailed for $2m fraud

File photo

A Kapiti Coast man acting as an accountant, tax consultant and investment advisor has been jailed for five-and-a-half years for defrauding clients of $2 million.

Ian Victor Petersen, 62, of Waikanae, pleaded guilty last year to 34 dishonesty charges over a 13-year-period.

That included misusing funds from 17 clients.

He failed to pass on money they forwarded to him for tax and ACC payments, various investments and forestry management fees.

Sentencing Petersen in Wellington District Court today, Judge Bruce Davidson ordered that he serve a minimum period behind bars of two years and nine months.

The most financial reparation he could make, $110,000, must be paid in full before October 1 this year or his sentence will be reconsidered.

- NZPA