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A former army officer's wife was today jailed for two years and eight months for her part in a $1m scam that left mainly army personnel out of pocket.
Jennifer Margaret McIntyre was due to stand trial in October in the Serious Fraud Office prosecution, but pleaded guilty to charges of conspiring to defraud and obtaining by deception, and was sentenced today.
"There is no hope of reparation," Christchurch District Court Judge Colin Doherty told her when he passed sentence .
"As much as I would like to make even a token award or order in favour of your victims, I think it is not appropriate."
Prosecutor Nicholas Till told the court that a total of $1.48m was handed over by the victims for investment.
Some repayment were made, but the outstanding losses were $996,341.
The defence said she wanted to repay the money but it was impractical. She was likely to be a prosecution witness in the trial of the other person charged.
She apologised to the investors "from the bottom of my heart".
Judge Doherty said 34 investors had been involved, losing amounts up to $166,500 and being left coming to terms with feelings of betrayal and deception.
No meaningful investments had been made with the money received. Instead, it had been used for personal spending, to repay other investors, rent, wages, expenses, travel costs, advertising and promotion.
He described McIntyre as a naive and gullible woman who had been under the influence of someone who was controlling and manipulating.
She accepted that by going to people and encouraging further investment, she was deceitful.
She got some reduction of her sentence for her guilty plea, which followed the hearing of five days of depositions evidence.
- NZPA
