Foreign exchange trader Christopher Collecutt, operating under the name CFX Trading, has been sentenced to two years, two months and three weeks in jail following a Serious Fraud Office investigation.
The 57-year-old pleaded guilty in the Auckland District Court in August to three Crimes Act charges after 59 investors, mostly family and friends, lost around $1.5 million through investing with him.
Charges include theft by person in a special relationship, obtaining by or causing loss by deception, and making a false statement as a promoter.
Collecutt traded foreign currency on behalf of investors located both in New Zealand and overseas, and had been forex trading since around 2007.
It's the second sentencing for this type of offence this week
The 57-year-old pleaded guilty in the Auckland District Court in August to three Crimes Act charges after 59 investors, mostly family and friends, lost around $1.5 million through investing with him.
Charges include theft by person in a special relationship, obtaining by or causing loss by deception, and making a false statement as a promoter.
Collecutt traded foreign currency on behalf of investors located both in New Zealand and overseas, and had been forex trading since around 2007.
It's the second sentencing for this type of offence this week
