The former managers of retail gas supplier E-Gas have been imprisoned for three years, and 3-1/2 years respectively, for fraud of at least $9.75 million.
Sydney Lio John Hunt, 46, and Ronald Peter Rosenberg, 73, were last month found guilty on multimillion-dollar fraud charges for under-reporting the amount of gas supplied to customers.
Wellington District Court judge Bruce Davidson today sentenced Hunt to 3-1/2 years’ jail, and Rosenberg to three years.
Rosenberg was also ordered to pay $400,000 reparation within 28 days.
The Serious Fraud Office (SFO) alleged during the month-long trial that E-Gas under-reported consumption by about 950,000 gigajoules, worth about $8.7m, and penalties were avoided to the value of about $8.6m between May 2003 and October 2008.
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