22 Dec 2021

Investment fund fraudster sentenced to 8 years in prison

From Morning Report, 8:22 am on 22 December 2021

An investment fund manager has been sentenced to more than eight years in prison, after cooking his investment fund's books by hiding a large but fictitious sum using a white font on a white background.

That made it look like the fund was growing, when the opposite was true.

The Christchurch fund manager Kelly Simon Tonkin, who's 52-years-old, lost more than $80 million that more than150 clients had invested in the Penrich Global Macro Fund.

Tonkin was sentenced yesterday in the Christchurch District Court after pleading guilty to representative charges of false accounting, false statements, and forgery brought by the Serious Fraud Office.

He was given a minimum non-parole period of four years three months.

Serious Fraud Office deputy chief executive of operations Paul O'Neil spoke to Susie Ferguson.