Convicted fraudster Alex Swney was declared bankrupt today.
Last month he was jailed for five years and seven months for using false invoices to fraudulently obtain more than $2.5 million from the downtown Auckland promotion agency Heart of The City, which he had founded and led for
nearly two decades.
Alex Swney – TV(NZ)
Swney was also found guilty of tax evasion, having avoided paying more than $1.7 million in taxes to Inland Revenue. Including penalties and interest, he was found to owe $3.8 million.
The bankruptcy – which had been sought by the IRD – is now in the hands of the Official Assignee, who will seek to recover funds for any creditors. [Read more…]