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FMA fraudster appeals

A former FMA staffer who ripped off investors is appealing his jail sentence.

Tuesday, July 5th 2016, 5:59AM 3 Comments

Benjamin Kiro was in court this week appealing the four-and-a-half-year prison term he was handed earlier this year.

He talked women on dating sites and businesspeople he met to invest in companies that were soon to list.

But he never invested any of the $250,000 he was given.

He forged his CV to get his job at the FMA, where he worked for about three months in 2014.

His lawyer argued that he was going to pay a $75,000 reparation order and was willing to go through restorative justice.

The decision has been reserved.

Tags: FMA

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Comments from our readers

On 5 July 2016 at 8:25 am AFA Muggins said:
SOooooooo, do we take it that the regulator doesn't check out it's own staff as thoroughly as it checks out AFAs?
On 5 July 2016 at 4:12 pm interested2 said:
Good job he was prosecuted, humble pie for FMA but not a reflection on the whole organisation. As the good advisers know and the FMA will come to accept, there are a few bad sheep in every situation but they are the exception not the rule. Hopefully legislation and workload for good advisers will reflect that.
On 6 July 2016 at 12:27 pm AFA Muggins said:
@Interested2......

Wait a minute, you are saying that legislation and workload are good for keeping good advisers good? And what exactly do you mean by workload? The added burden of complex, misunderstood and largely unnecessary regulation?

We are talking about criminals here - like we have had in the advisory community. By the very nature of being criminal, they knowingly work outside of law.

Criminals are criminals - law doesn't matter to them! It doesn't matter how much you regulate and pass new laws. All that does is strangle those doing a good job to start with. You must work for the FMA?

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Median 5.45 4.55 5.25 5.52

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