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.
