From heiress lifestyle to bankruptcy - in prison

A Christchurch woman who lived like a heiress has been declared bankrupt while serving a jail term for the fraud that funded her lifestyle.

Over six years, Sandra Louise Staples, 52, of Diamond Harbour, 30km southwest of Christchurch, took nearly $700,000 from her employer, Nairn Industries, and spent the money on travel, concerts, jewellery, clothing, wine and cars.

She continued with the fraud even when the company began to struggle financially and it eventually contributed to the company owner, multi-millionaire Donald Nairn, losing his fortune.

Staples was found guilty of 425 counts of fraud in Christchurch District Court in April and was sentenced the following month to five years jail. The term was reduced on appeal to four years.

In the High Court at Christchurch this week, Staples was adjudicated bankrupt after a petition by Nairn Industries in the sum of $695,383.

- NZPA