21 Mar 2011

Defrauded investors liable for unpaid tax

1:25 pm on 21 March 2011

Seventeen people who were defrauded by a man who claimed to be an accountant are entering discussions with Inland Revenue on $2 million of unpaid tax.

Ian Victor Petersen was found guilty of 34 theft and fraud charges laid by the Serious Fraud Office (SFO) and sentenced to five-and-a half years jail.

The SFO says Petersen received funds from his clients on behalf of Inland Revenue, but did not pass the money onto the tax authority.

It says he instead spent the money on personal travel, cars and entertainment.

Serious Fraud Office general manager Nick Paterson, says the victims have been told they are still liable for the unpaid tax.

Inland Revenue declined to comment to Radio New Zealand, citing tax privacy laws.