A man has admitted six fraud charges brought by the Serious Fraud Office over millions of dollars owed to the Bank of New Zealand.
Avon Richard Gillespie, 45, a former dairy farmer of Maruia, had previously denied seven fraud charges, one of which was withdrawn in the NelsonDistrict Court yesterday.
Gillespie was a director of eight farming companies that went into receivership in 2005 after failing to make debt repayments and owing more than $25 million to the BNZ.
The charges alleged he used documents, including a lease contract and an invoice, for pecuniary advantage and that he used documents with intent to defraud.
A charge that he used a forged document as genuine was withdrawn. The document was a letter purporting to be from the BNZ and addressed to the ASB Bank.
Gillespie's counsel, John Sandston, told the court that there was "quite a bit of background" to the offending and no hope of reparation.
He said Gillespie was in a poor financial position that went hand in hand with the offending.
Judge Tony Zohrab remanded Gillespie in custody for sentencing on October 15.
Gillespie is already serving four and a half years in jail for an unprovoked assault and firearms offences.
