1 Mar 2011

Former Lion Foundation head convicted of fraud

9:32 pm on 1 March 2011

Former Lion Foundation chief executive David Conroy has been found guilty on three false accounting charges in relation to more than half a million dollars.

The charges laid by the Serious Fraud Office against Conroy related to three journal entries made between 2002 and 2004 in the Lion Foundation accounts.

The entries had the effect of writing off nearly $520,000 from a debt balance owed by the Strathern Inn in Invercargill.

Conroy made the entries without the knowledge or approval of the foundation's board in order to hide the true amount owed to the foundation by the Strathern Inn.

Conroy, who has appeared in Auckland District Court during the past two weeks, was remanded on bail for sentencing in April.