'Runaway millionaire' Leo Gao sentenced

The former Rotorua man dubbed the runaway millionaire has been sentenced to four years seven months in jail after he stole more than $6.7 million from Westpac.

Hui "Leo'' Gao transferred cash into overseas bank accounts held by his parents before fleeing New Zealand early in 2009.

The 31-year-old former Rotorua businessman appeared in the Rotorua District Court this morning before Judge Phillip Cooper for sentencing after pleading guilty in June to seven charges of theft, totalling more than $6.7 million.

According to the police summary of facts, days after applying for a $100,000 bank overdraft for his struggling Rotorua BP petrol station, Gao realised the bank had mistakenly given him a $10 million limit.

A flatmate overheard him yelling in April 2009 "f***ing rich ...'' Gao then set about transferring millions from his business account to personal accounts in his name and those of his parents.

A total of $6.78 million was transferred. Some went through remittance companies to accounts in China and Hong Kong.

Gao also transferred more than $347,000 to casino accounts in the Asian gambling capital of Macau before fleeing New Zealand.

His de-facto partner and the mother of his child, Kara Hurring, followed days later and opened a "player's account'' at the casino with her passport.