Jacqui Bradley went to "shameful lengths" to seek out new investment when the bank balance at her business was low, a court has been told.
The Crown gave its closing arguments yesterday in Bradley's trial on fraud charges, alleging that her company, B'On Financial Services, was a "money merry-go-round" and funds were not being invested as clients believed.
Instead their money was used to pay other investors back, in what is commonly known as a Ponzi scheme, the Crown said.
"It was all a lie," Crown lawyer Kristy McDonald, QC, told the jury in the Auckland District Court.
But while it was alleged the accused and her late husband, Mike, used client money for the mortgage on their Remuera home and payments on a BMW, the defence said the Crown did not present evidence to show the couple had a lavish lifestyle.