A high-profile Napier fraudster recently released from prison has told a judge he'll struggle to repay his victims - despite now earning $1100 a week after tax.
Blair Fitzsimons, 43, stole more than $4 million from Pioneer Insurance shareholders between 2005 and 2008 and was sentenced to 4 years' jail, with
2 years' minimum non-parole. At the 2008 sentencing in the Napier District Court on eight charges of fraud and forgery, Judge David Ongley said despite the "devastating" impact on the victims, the prospects of the fraudster being able to pay everything back was "ridiculous". He ordered reparation of $250,000 to be paid on his release.
Fitzsimons was paroled on April 13 this year and yesterday appeared in the Hastings District Court to arrange repayment. He told Judge Philip Connell he'd started working only a month ago and was earning $78,000 a year, yet due to personal expenses could afford no more than work bonuses as reparation.
"[Yet] there is some responsibility to the victims who were told during sentencing that reparation would be paid to them," Judge Connell said. "So what do you suggest you can pay?"
"Not a lot, to be honest," replied Fitzsimons, who said he took home $1100 a week and probably would receive a higher salary soon.
The judge said, "It's not a bad weekly wage is it?" He then urged him to start "trimming" some of his outgoings. He ordered repayment of $100 per week, to be reviewed in six months. "It's appropriate at some point that you put your money where your mouth is."
Reparation of $250,000 - just over six per cent of what he stole - would take 48 years to pay off at $100 per week. Former Pioneer Insurance shareholder Rob Elvidge said he was unaware his former colleague had been released. "I'm trying to put that chapter behind me," he told Hawke's Bay Today. "But for a man who regards himself as a financial tycoon, that's a meaningless amount ... but I'm happy that some of the money will filter back to the many people he stole from."
The Parole Board decided to release Fitzsimons after a hearing on April 6. It described his attitude in jail as "exemplary".
Conditions of his release were to not contact any victims, or be employed directly or indirectly in handling finances without his probation officer's written approval.
