May 27, 2019
Guilty plea in Pārengarenga trust looting
A former trustee who looted more than a $1 million set aside to replant a far north forest has admitted to stealing the money.
Stephen Henare, 61, was four days into what was expected to be a three week trial when he changed his plea.
The Serious Fraud Office says Henare was a trustee of the Pārengarenga 3G Trust, which managed a 512-hectare commercial forest on Māori land in the far north for more than 400 beneficial owners.
His sister and fellow former trustee, Margaret Dixon, was sentenced last year for helping him defraud the trust and was sentenced to 12 months’ home detention and ordered to pay $5,000 in reparation.
Henare will be sentenced at the Auckland High Court on July 26.
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