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SOCIETY FOR PROMOTION OF COMMUNITY STANDARDS INC.

Patrick John Renshaw – Ex-lawyer admits 42 tax offence charges

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PATRICK JOHN RENSHAW, 68, a former lawyer whose frauds contributed to losses suffered by many Upper Hutt investors in the 1990s has pleaded guilty to tax charges. [The NZ Gazette records him as a bankrupt effective 7 April 2014 in a notice from the official assignee].

Renshaw, now a tax advisor, was in the Wellington District Court yesterday (18/8/15)  where guilty pleas were entered to 42 charges of aiding and abetting offences, most of them for not paying PAYE tax deductions to the Department of Inland Revenue for employees of his own company.

Other charges related to trying to claim false GST refunds for four companies, and filing a false tax return for himself and one company. He will be sentenced next week.

Inland Revenue produced a chart showing the shortfall in tax paid was $144,968, with another $201,413 attempted.

Renshaw was one of two defrauding partners in the high-profile collapse of Upper Hutt law firm Renshaw Edwards in 1992. [Read more…]

Former $6.4 m fraudster bankrupt over BNZ debt

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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…]

Tax fraud trial for company director

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A Wellington tax adviser has opted to go to trial on fraud charges involving more than $270,000. Patrick John Renshaw, 66, of Ngaio, came to court yesterday after failing to appear at the last court date. He faces 42 charges of aiding and abetting Resource Management  Research and Burma Holdings to apply PAYE and student loan deductions to a purpose other than payment to IRD along with personal charges of knowingly providing false tax returns for himself and Margaret Gallaher and of declaring a salary he did not receive to get a tax refund. Judge Peter Hobbs, in Wellington District Court, remanded Renshaw on bail until May for a date to be set. He also faces bankruptcy proceedings.

Dominion Post p. A3
Thursday 20 March, 2014
Notes:
Resource Management Research Services Ltd (Co. no. 816377 ) Incorporated 04/07/1996
Registered Office and address for service: Flat 12, 5 Wakefield Street, Alicetown, Lower Hutt, 5010 , New Zealand.

Former fraudster faces bankruptcy

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A former fraudster who was jailed for seven years for fraud totalling $6.4 million is facing bankruptcy unless he pays nearly $12,000.

The Bank of New Zealand yesterday sought for Patrick John Renshaw to be adjudicated bankrupt in the High Court at Wellington for failure to pay an undisclosed amount.

But the application was adjourned for a month, after an agreement was reached between the two parties.

Renshaw now has to pay a compromised amount of the debt, totalling $11,296.52, by April 7, or face bankruptcy.

Renshaw was involved in the high-profile collapse of Upper Hutt law firm Renshaw Edwards in 1992.

He was released on parole 32 months into a seven-year sentence on 42 charges of fraud and theft involving $6.4m of clients’ funds.

His partner, Keith Edwards, was jailed for six years on 51 charges of theft involving $3.5m.

Edwards served two years and seven months of his six-year sentence.

The bizarre collapse of the firm occurred after the two partners committed the respective multimillion-dollar frauds separately and unknown to each other.

The collapse eventually hit the pockets of 2800 of the country’s senior lawyers, resulting in tougher control of lawyers’ trust funds.

In 1996 the Law Society settled more than 400 Renshaw Edwards claims totalling about $29m.

The settlement cost the senior lawyers $10,000 each, as well as their annual $500 fidelity fund fee because their fidelity fund could not cover the payout.

The men were prosecuted for less than $10m by the Serious Fraud Office but the society accepted the men had caused clients losses of $29m.

Source: Fairfax NZ News. Published 04/03/14

See: http://www.stuff.co.nz/business/money/9785712/Former-fraudster-faces-bankruptcy

Note: Patrick John Renshaw is sole director of  Resource Management Research Services Limited and holds 178 (89%) of the company shares. He is sole director and sole shareholder of  Burma Holdings (2006) Ltd, Window Tint and Signs Ltd (In Liquidation since 18 June 2012) and many other companies.