KEY POINTS:
A preliminary report from chartered accountants Marriotts raises the possibility that dishonest silage broker Paul Douglas Hadfield has been hiding income and assets.
That indication was given by Christchurch District Court Judge Michael Crosbie at a reparation hearing today, looking at whether Hadfield can pay $335,000 back to his rural victims.
Hadfield, 66, was ordered to pay the money back when he was jailed on 81 fraud convictions last year but he has served his sentence without paying any of it.
Judge Crosbie remanded Hadfield on bail to continue the reparation hearing on December 20. The delay will give Marriotts a chance to do a fuller investigation for the court's collections unit and to get registered valuations.
The preliminary report suggested that the valuations on Hadfield's land and property could be higher than stated. It also raised questions about the handling of funds and loans within what Judge Crosbie described as "various Hadfield entities", and the handling of matters concerning bloodstock.
"Marriotts consider it not beyond the realm of possibility that there has been some transfer of assets with the intention of decreasing personal income and personal wealth," he said.
Defence counsel James Rapley said Hadfield was co-operating in the investigation.
- NZPA
