All 20 defendants to stand trial in $10m fraud case

The 20 defendants in one of the country's biggest fraud cases, involving more than $10 million, have been committed for trial.

The marathon depositions hearing for Operation Allsorts ended in Hamilton when seven defendants who had not conceded prima facie cases were committed for trial.

Among the accused are lawyers, managers and accountants arrested after two years of investigations in the North and South Islands.

The group was allegedly led by Hamilton man Miles John McKelvy, 47, who faces 112 fraud-related charges.

It is alleged the 20 accused targeted people whose equity was tied up in their homes, had little or no income and were under financial pressure.

It is alleged the victims, unable to raise funds, went to members of the group who posed as mortgage brokers.

The group allegedly tricked people into signing sale and purchase agreements for their properties.

Funds were raised but the Crown says the money raised only ever went back to the group members.

The depositions hearing for seven of the people involved lasted seven weeks. All 20 defendants have been remanded to reappear for callover on July 7 to decide a trial date.