Ryan
William Weir and Scott Alan McRobie surrendered $251,000 profit made on a South
Auckland property development using a BNZ loan approved by Weir whilst they
were BNZ employees, without telling the Bank the loan was for their benefit. While denying they were party to any criminal
activity, they both agreed profits be paid to the Crown under the Criminal
Proceeds (Recovery ) Act.
The High Court was told Weir set up a
dummy company ostensibly owned by BNZ client, property developer Michael James
Stephens. Mr Stephens presented a loan
application on behalf of the company to buy land in Calcite Avenue, at Flat
Bush in South Auckland. He had no
financial interest in the project. Weir
approved the loan and together with fellow BNZ employee McRobie managed the
property development.
BNZ went on the warpath after discovering
its employees’ undisclosed personal interest in the loan application. It alleges the loan was obtained by
deception. The Bank forced a sale of the
Flat Bush development and took steps to ensure Weir and McRobie did not
profit. The surplus on sale amounted to
$271,553. It was agreed Weir and McRobie
receive $20,000 only. The balance was forfeited.
Commissioner
of Police v. Weir & McRobie – High Court (20.04.16)
16.060