Benefit society probe finds more fraud

File photo / Martin Sykes

More fraudulent activity has come to light at the Hibernian Catholic Benefit Society taking the amount now missing to more than $1 million.

The Serious Fraud Office began investigation last month after nearly $600,000 was found to be missing from the society's credit union.

Society president Mike McBride told Radio New Zealand that further enquiries had revealed that another $500,000-plus had been siphoned off over several years from an account used to provide members with benefits such as insurance.

He said the loss would not have an adverse effect on members' benefits, but was a further shock for them.

The society, which was established in 1869, has the simply philosophy "Catholics helping Catholics".

It has nearly three thousand members throughout New Zealand.

- NZPA