$103m Datasouth fraudster awaits fate

$103m Datasouth fraudster awaits fate

Gavin Bennett will be sentenced in Christchurch today

Convicted fraudster Gavin Clifford Bennett, who spent millions on wine and women in Sydney, will be sentenced today in Christchurch.

Bennett, 54, was detained in custody last month after admitting charges laid by the Serious Fraud Office alleging he orchestrated a $103 million fraud involving a Ponzi-style scheme and false accounting.

The Datasouth Finance director pleaded guilty and was convicted on charges relating to the $103m fraud which resulted in at least $23m of actual losses to the late Allan Hubbard's failed finance company South Canterbury Finance

The fraud was a Ponzi scheme where Bennett had South Canterbury Finance provide funds for false customers who were supposedly taking up IT services and hardware.

Bennett was convicted on the six representative charges under the Crimes Act relating to about 900 separate incidents of dishonestly using a document, and two charges of false accounting.

The Serious Fraud Office told Reseller News in April last year that it was investigating Datasouth Finance Limited, part of the Datasouth Group. In March this year, Bennett pleaded guilty of fraud.

Follow Us

Join the newsletter!

Error: Please check your email address.

Tags datasouth



Opening ice breaker sessions set the scene for EDGE 2017

Opening ice breaker sessions set the scene for EDGE 2017

​EDGE 2017 kicked off with an opening ice breaker session, providing a structured environment for channel executives to form and foster new relationships and business opportunities. Photos by Maria Stefina.​

Opening ice breaker sessions set the scene for EDGE 2017
Show Comments