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Billionaire banker, philanthropist David Rockefeller dies at 101


David Rockefeller's nephew, Jay Rockefeller, was a longtime U.S. senator from West Virginia. David Rockefeller spent his ... His fortune, investments in real estate, share of family trusts and other holdings were estimated at $3.3 billion in March 2017 ...


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The former real estate agent found guilty of a $13.5m mortgage scam has been sentenced to four and a half years in prison Raghu Aryasomayajula, 38, was sentenced at the Auckland District Court this morningHe was found guilty of two counts of obtaining by deception by Judge Roy Wade at a judge-alone trail in November Judge Wade gave a sentence starting point of five years, but took six months off because of what he called "financial pressures" from family members overseas He declined to give Aryasomayajula any discount for his lack of previous convictions, because it was repeat offending Aryasomayajula and a co-defendant Phillip Julian Cavanagh, both former Barfoot and Thompson agents, were convicted of charges that involved deceiving banks into lending money on 10 residential properties In the $13 million real estate scam, Cavanagh and Aryasomayajula bought properties which could be subdivided To get money for the developments, Aryasomayajula filled out mortgage applications in the names of work colleagues and acquaintances To gain bank approval, the applications often contained false employment records, inflated wages and left out existing debt Cavanagh pleaded guilty in October 2009 to three charges and was jailed for two years and five monthsHis sentence was reduced after he agreed to give evidence against Aryasomayajula In his decision last year, Judge Wade said he was satisfied Aryasomayajula knew banks were being given grossly erroneous information, "much of it deriving directly from him", and that this false information was a major inducement to the ANZ Bank to grant the mortgage sought Barfoot and Thompson managing director Peter Thompson said last year that verdict sent a clear message to the real estate industry - "You do the crime, you do the time." Related articles: BUSINESS Ex-agent found guilty of $13m property fraud 11 Nov, 2010 2:10pm 2 minutes to read BUSINESS Scam victim left $600k in debt 12 Nov, 2010 5:30am 3 minutes to read NEW ZEALAND Agent gets jail term for $13.5m real estate scam 4 Feb, 2011 5:30am 3 minutes to read Print this article Share via email Share on Facebook Share on Twitter Show more Bookmark this article Share on Facebook facebook Share on Twitter twitter Share via email email Share on LinkedIn linkedin Share on Google Plus google-plus Share on Whatsapp whatsapp Share on Pinterest pinterest Share on Reddit reddit Trending Topics Police seize 39 guns in raid Text that ended Tiger Woods Inside Trumpland Ardern's tour of Europe Advertisement Advertise with NZME Latest from Business BUSINESS Kiwi housing problems part of global trend 18 Apr, 2018 1:33pm 4 minutes to read BUSINESS Aussie banking scandal: What does it mean for NZ? 20 Apr, 2018 1:09pm 4 minutes to read BUSINESS Rocket Lab founder blasts lack of 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