Financier admits to $1.9m fraud

A financier this morning admitted to fraud totalling more than $1.9 million.

Warren Green pleaded guilty to two representative charges of theft by misappropriation when he appeared in Nelson District Court.

The court was told Green's company - Mobile Finance Centre - got into financial difficulty in 2000 and he began using client money to fund business expenses.

The offending happened between May 2000 and last December.

So far Green has managed to repay about $400,000 to some of the 40 people affected.

He was remanded in custody for sentencing on May 28.

- NEWSTALK ZB