Fraudster's multi-million dollar assets auctioned

Michael Swann. Photo / Otago Daily Times

Millions of dollars worth of assets belonging to one of New Zealand's most notorious fraudsters went under the hammer on Saturday.

Michael Swann, former chief information officer at the Otago District Health Board, was sentenced to nine and a half years prison for defrauding the board of $16.9 million between 2000 and 2006.

On Saturday, 20 cars, bikes and boats that belonged to Swann were sold at auction, following a High Court order for Swann to forfeit $3.5 million in assets, The Otago Daily Times reported.

A crowd of 500 turned up, and 120 bids were made by phone and just under 200 were made online.

Swann's Mercedes Benz 280 SL went for $58,000, a 1929 Rolls-Royce Phantom 2 went for $140,000 to a phone bidder, while a 1970 Jaguar E-type went for $53,000.

Swann's replacement at the board Grant Taylor, who now works in Christchurch, was one of the bidders and won Swann's Honda NRX 1800 for $15,500.

"I'm stoked. It was a good deal," Mr Taylor said.

- NZPA