Defence lawyer Jeremy Bioletti in his closing address argued that Rangitauira had never intended to deceive the bank.
"The accused returned to New Zealand and borrowed money to, if you like unbond this money [clear the inheritance], to complete an overseas project - that was what he was doing.
"He believed that if the money was paid, that cash would be transferred to [the woman claiming the inheritance] and he would at that point be entitled to be paid."
Mr Bioletti said Rangitauira had no intention to deceive the bank.
"In his mind he was completing an overseas transaction. That's what he did. The only downside was that he was defrauded quite plainly."
There was no deception by Rangitauira against the trust, Mr Bioletti said.
Judge David Wilson, QC, remanded Rangitauira on bail for sentencing in the Auckland District Court on December 16. He also said Rangitauira could be considered for the restorative justice scheme.