South Canterbury Finance: Two cleared, one guilty

A former director of South Canterbury Finance has been found guilty of making false statements, but two former SCF heads have today been cleared of any wrongdoing in what had been billed as the "biggest fraud in New Zealand's history". Former South Canterbury Finance (SCF) chief executive Lachie McLeod, 50, and former director, accountant Robert White, 70, were found not guilty on all charges by Justice Paul Heath after a lengthy and complex trial. Ex-director, lawyer Edward Sullivan, 72, has been found guilty on five of nine charges, including making false statements and misuse of a document for pecuniary advantage.

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