John Grant Fagan (54) has been sentenced in the Palmerston North District Court to 3 years & one month in jail following a Serious Fraud Office prosecution.
Mr Fagan pleaded guilty last September to 15 offences under the Crimes Act of false statement by promoter, forgery & using forged documents.
Serious Fraud Office director Julie Read said today: “The charges arose out of Mr Fagan’s attempts to promote a number of technology & property companies between 2009-11. He used false & forged documents which overstated the value or success of the businesses in an attempt to encourage people to invest with him. He also made false statements overstating the position of the companies. Mr Fagan’s actions relate to investments of $1.285 million and attempts to gain a further $4.564 million from various individuals & entities.
Mr Fagan was a director of Isthmus Builders Ltd in Auckland in the mid-1990s and, in Palmerston North, companies including Fagan Group Ltd, Manukau Super Developments Ltd & Pacific Properties One Ltd.
Attribution: SFO release.