By KELLY BLANCHARD in Rotorua
Rotorua man Bill Papple has been found guilty of ripping off nearly $15m from investors.
Papple stood emotionless in the dock when the jury foreman read out the guilty verdict in the Rotorua District Court.
The jury took just over three hoursto reach its conclusion.
Although Judge James Weir has granted Papple bail until his sentencing, he has not made any promises about Papple escaping a jail sentence.
Papple had been on trial in the district court after pleading not guilty to a charge of conspiring to commit fraud between July 2000 and September 2002.
He was jointly charged with his wife, Margarite Huia Papple (also known as Lee Papple), and Tina Marie West.
The latter pair are serving five-year jail terms after being found guilty of the charge in November last year. That jury could not decide whether Bill Papple was guilty and another trial was ordered.
Papple's second trial started earlier this month and lasted one-and-a-half weeks.
Judge Weir yesterday remanded him on bail for sentencing on October 14
"I don't want you to take that as an indication that your liberty is not at risk. You need to bear that in mind."
For two years, the Papples and Ms West ripped off more than 120 people, mostly from the Bay of Plenty.
Their victims included Northland Maori health and social services agency Te Hau Ora O Tai Tokerau, which invested $100,000 of taxpayers' money, several high-profile Auckland businessmen, a church leader, a bank manager and a policeman.
Many were family, friends or involved with the Papples through the Mormon church in Rotorua.
Investors were offered interest rates of up to 100 per cent a month and most were told their principal sums were guaranteed.
According to the Serious Fraud Office, around half the invested money was used as supposed interest payments, a quarter was spent on personal items such jewellery and property and the rest invested in "crazy schemes that failed miserably".
