A former financial adviser entered guilty pleas to two counts of making a false statement under the Financial Reporting Act. File photo
A former financial adviser entered guilty pleas to two counts of making a false statement under the Financial Reporting Act. File photo
A former financial adviser, currently in jail for stealing nearly $3 million from clients, has admitted further charges against him.
Andrew Hrothgar Robinson, 42, is currently serving a six-year term after pleading guilty to five charges of theft by a person in a special relationship and one charge of dishonestlyusing a document.
Today in the High Court at Auckland he entered guilty pleas to two counts of making a false statement under the Financial Reporting Act, one of illegally providing brokering services and one of making a false declaration.
The offending took place between 2009 and 2013.
A former director of Auckland-based Strategic Planning Group, Robinson previously admitted stealing about $2.7 million of investor funds.
The money was used to repay other investors and to pay for some business and personal expenses between 2010 and 2012, according to the Serious Fraud Office.
The former financial adviser also made false statements in reports to hide the true picture from investors.
The actual losses to Robinson's investors was $2.3 million.
Robinson was the second authorised financial adviser to ever lose his license when the Financial Markets Authority cancelled it in December 2012.
SFO lawyer Rachael Reed said the actual amount stolen was more than $3 million and called the offending an "extensive, premeditated theft by very much a trusted adviser".
"The victims had 100 per cent trust in Mr Robinson with all of their funds," Reed said.
"Their lives have changed considerably as a result of the theft."
