A FORMER fraudster who was jailed for seven years for fraud totalling $6.4 million has been declared bankrupt.
Wellington tax adviser Patrick [Pat] John Renshaw had until yesterday to pay the Bank of New Zealand a compromised debt of nearly $12,000.
BNZ had sought the order last month after Renshaw failed to pay an undisclosed amount. The application was adjourned after BNZ agreed to give him a month to pay the compromised debt of $11, 296 by April 7.
But in the High Court at Wellington yesterday, Renshaw consented bankruptcy. [Read more…]