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Adviser pleads guilty

A former financial adviser has pleaded guilty to stealing nearly $3 million.

Wednesday, May 13th 2015, 11:54AM

Andrew Hrothgar Robinson has admitted charges laid by the Serious Fraud Office (SFO).

Following investigations by the SFO and the FMA into the activities of Auckland-based Strategic Planning Group Limited, the SFO filed five charges of theft by a person in a special relationship and one charge of dishonestly using a document against the former financial adviser Andrew Robinson in September 2013.

Robinson pleaded guilty to all of those charges.

Robinson was a director of Strategic Planning Group and stole investor funds of about $2.7 million to repay the investments of other investors and to pay for some business and personal expenses between 2010 and 2012. Robinson also dishonestly used a document by making false statements in various investment reports to hide the true picture from investors.

SFO director Julie Read said: “The SFO is pleased that this matter has been resolved by a plea of guilty. The investors in this matter took appropriate precautions and reasonably believed they were dealing with an honest adviser.  Unfortunately, this is not always enough to protect people from fraud as has proved to be the case in this instance.”

Robinson has been remanded in custody and will appear for a disputed facts hearing on June 2.

A sentencing date is yet to be set.

Tags: financial advisers FMA serious fraud office

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