Extradited man to face $1.5m fraud charges

A 53-year-old man has been extradited from Australia to face 41 fraud charges totalling $1.5 million.

Peter Edward Hynes did not oppose the extradition and arrived in Christchurch late last night to be taken into custody, the Christchurch Court News website reported.

Crown prosecutor for the Serious Fraud Office, Mark Zarifeh, opposed release on bail when Hynes appeared in Christchurch District Court today on the grounds that he was seen as a possible flight risk.

He said Hynes had left New Zealand when his company went into liquidation and it had taken several years to find him in Australia where he was living under an assumed name.

Defence counsel Jeff McCall sought Hynes' release on bail saying that he had already spent a week in custody in the police watchhouse in Brisbane, awaiting the flight to New Zealand.

He said Hynes would be able to report daily to Dunedin Police Station while he was on bail.

Mr Zarifeh said although the SFO opposed Hynes' release, it would agree to him being granted electronically monitored bail at some stage.

Judge Stephen Erber refused bail and remanded Hynes in custody to July 22 but said he would be allowed to make application for electronically monitored bail.

The fraud charges allege offending in Christchurch in 2005 and 2006.

- NZPA