Money man escapes drug rap

Oliver Mauger. Photo / Supplied

A Kiwi hedge-fund manager who admitted serious drugs charges escaped conviction so he wouldn't lose his $365,000-a-year job.

Former Aucklander Oliver Mauger, 33, was arrested carrying 20 Ecstasy pills and a small amount of cannabis on his way to a dance-music festival in Sydney in 2011.

Mauger told the Sydney District Court the drugs were a "release valve" from the pressures of work.

A psychologist said the Auckland Grammar old boy was in a "regressive psychological state" at the time, caused by a relationship break-up.

Mauger pleaded guilty to supplying drugs contrary to the Drug Misuse and Trafficking Act, a charge carrying a maximum term of 15 years' jail.

The charges were dismissed after the judge decided losing his job would be an excessive punishment. Mauger was instead placed on a two-year good-behaviour bond.

The Crown appealed and his case went to the NSW Supreme Court, which upheld the original decision.

Mauger resigned from his job at the end of last year and is travelling through Asia on his way to Europe and could not be reached for comment.

A family member said they had not been aware of the charges.

Mauger's LinkedIn profile reveals a stellar career in the finance sector.

After completing a business degree at Auckland University, Mauger worked in Britain and Switzerland before returning home in 2006 to work for New Zealand Funds Management.

Two years later he moved to Sydney to work for Perpetual Investments.

Judge Jennifer English noted Mauger's extensive charity work.

Mauger is the latest in a string of prominent cases that have resulted in defendants being discharged without conviction for serious crimes. Former Serious Fraud Office prosecutor Anita Killeen was discharged without conviction after pleaded guilty to forgery charges in December. Killeen argued she was suffering side-effects of a fertility drug.

In February, a Gisborne sportswoman was discharged without conviction for drink-driving after a judge ruled it would be unfair as it would prevent her from competing overseas.

The Herald reported this week that 2898 people were discharged without conviction in this country in the 2011-12 financial year.