Double-murder accused already facing fraud charges

The Stilwell Rd house in Mt Albert that was the scene of a double killing last week. A Chinese man faces two charges of murder. Photo / Natalie Slade

The man charged with two murders in a $3 million mansion is also facing a separate multimillion-dollar Serious Fraud Office case.

Name suppression was lifted yesterday for 51-year-old Cheng Qi Wang, who is charged with the murders of Zhuo "Michael" Wu, 44, and Yishan "Tom" Zhong, 53, in the Auckland suburb of Mt Albert.

Wang - also known as Chris Wang - lives in the Stilwell Rd property where the two men were found stabbed to death on Friday last week.

He appeared in Auckland District Court this week and was remanded in custody until February 7.

The Weekend Herald can reveal Wang will reappear in court next week on money laundering and fraud charges laid by the SFO in August.

Wang faces two charges of money laundering between May and July 2008, and two charges of obtaining a pecuniary advantage using a document in the same period.

The SFO charges relate to an alleged $2.3 million mortgage ramping scheme. Such frauds take advantage of property boom and lax mortgage lending by banks.

Wang is alleged to have bought homes in the Kaukapakapa area, north of Auckland, then arranged for the values of the properties to be falsely inflated.

Buyers were then found for the properties, who would agree to sign mortgage applications with fake income details, leaving out any mention of debt. SFO chief executive Adam Feeley said the fraud prosecution would go ahead despite the two murder charges.

He said staff were cooperating fully with the police investigation and provided full access to the SFO files.

"It is, to say the least, an unusual set of circumstances," said Mr Feeley.

Detective Inspector Bruce Shadbolt, head of the murder inquiry, declined to comment on specifics of the case but said the inquiry was progressing.

Wang's defence lawyer David Jones, QC, declined to comment.

Court documents list Wang as unemployed.

But he has a background as a builder and is a director of two companies that have been struck off.

He is believed to have made money from buying houses cheaply, renovating them, then selling for a profit.

A number of civil court claims have been filed against Wang and his wife in recent years, including a High Court summary judgment ordering them to pay more than $200,000 last year.

A debt collector who served the papers said there was a court case related to a failed property deal.

Wang did not seek bail on the murder charges this week, but may make an application at his next court appearance.

A post mortem has confirmed Mr Wu and Mr Zhong died from stab wounds. One of the dead men was found lying in the driveway, the other on the floor just inside the house.

Two weapons were found inside the house and a Toyota Rav 4 SUV - registered to Mr Wu in Remuera - parked outside was sealed with police tape as officers examined the scene.

Another car parked at the house, a yellow Volkswagen Beetle, is registered to a Mt Roskill address. It is owned by a woman who was at the Mt Albert mansion during the attack and called 111.

The SPCA visited the home on Thursday to rescue chickens which had been left unattended since the attacks.

The property has a colourful history.

The four-storey house is built on two titles and is worth more than $3 million. Built in 1929, it has four bedrooms, an indoor spa pool with mirrors, and 180-degree harbour views from the top balcony.

It is owned by the Michelle Trustee Company Limited, which is owned by Wang's estranged wife Zhixue Chen. She is believed to live in China after separating from Wang last year.

The mansion was once owned by colourful property investor Barrie Cardon who bought it from New Zealand Forestry Products founder Sir David Henry.