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A Christchurch accountant and author who wrote a best-selling book on tax saving has been jailed on fraud and money-laundering charges.
Christchurch District Court Judge Michael Crosbie yesterday jailed Peter Fergus Sibbald, 47, for three years after he pleaded guilty to five charges of dishonestly using documents and one count of money-laundering.
Sibbald netted some $560,000 from his swindling which he blew on gambling and personal debts, The Press newspaper reported.
Judge Crosbie said Sibbald worked part-time as an accountant for a charitable organisation, which has been granted name suppression, and had authority to sign cheques.
Sibbald used $435,000 of the organisation's money for his own purposes, including settling personal debts.
Ultimately the organisation did not lose because it was insured against employee theft, but it was a significant breach of trust, the judge said.
Sibbald disguised $143,200 by laundering it through his partner's account.
He also held tax agencies for eight companies, and between 2002 and 2005 filed GST returns leading to an inflated payout. The IRD paid out $118,000, which was $107,000 too much, the judge said.
The court was told Sibbald took steps to conceal his misappropriations from the organisation and the offending was only discovered by his successor. A total of $560,000 was fraudulently obtained, spent on maintaining a lifestyle and repaying debt.
Lawyer James Rapley said Sibbald had already paid reparation of $144,000. He had shown remorse, had confessed when interviewed by the Serious Fraud Office, and pleaded guilty.
Sibbald's first book - Slash Your Taxes Now - made the bestseller list in 2004, proving a hit with people trying to find legitimate ways to save money on their taxes. It was written in consultation with the IRD.
- NZPA
