Sentencing —fraud — retirement — Ponzi scheme — false statement — forgery — theft by a person in a special relationship — obtaining by deception — Sentencing Act 2002 — Cole v Police [2001] 2 NZLR 139 (HC) — Wood v R [2020] NZCA 48 — R v Xie [2007] 2 NZLR 240 — Serious Fraud Office v Hibbs [2018] NZDC 5708 — R v Swan HC Dunedin CRI-2007-012-004181, 11 March 2009 — Serious Fraud Office v Ross DC Wellington CRI-2013-085-0077462, 15 November 2013 — Ross v R [2014] NZCA 272 — Ryan v R [2018] NZCA 586 — Cherry v R [2013] NZCA 636 — Moses v R [2020] NZCA 296 — Hessell v R [2010] NZSC 135, [2011] 1 NZLR 607 — R v Thomas [2018] NZHC 891 — Strydom v R [2018] NZHC 358 — R v Robinson [2015] NZHC 1673 — Van Wakeren v R [2011] NZCA 503. The defendant appeared for sentencing on 11 charges that caused a loss to 81 victims with the collective value of $15,759,033. The offending took place over seven years. The defendant was in the business of financial advising on investments, debt and insurance. The defendant would hold seminars where the attendees were encouraged to purchase investments using the defendant's investment services. The defendant had since admitted that the investments were not real. The victims were instructed to place funds in an account that belonged to a company of which the defendant was the sole director. The defendant controlled the money and used it for his extravagant lifestyle. There were 35 victim statements which stated that the victims viewed the defendant with trust and after the offending, most did not accept his apology. It was accepted by the Court and the victims that the total amount lost was not going to be repaid. The considerations for the starting point included the extent of harm of the offending to the victims, the abuse of position of trust, vulnerability of the victims, and premeditation. Thirteen years was considered to be the appropriate starting point. No discounts were given for previous good character or psychological report. Discounts were given for the defendant's attendance at restorative justice conferences, his cooperation, remorse, age and health. A 25 per cent discount was given for guilty plea. The end sentence was eight years and 10 months. The defendant was to serve five years and four months before he could be eligible for parole. Judgment Date: 31 July 2020