Auckland bankrupt accused of hiding $19 million of casino winnings
An Auckland businessman who claimed bankruptcy has been accused of hiding $19 million won at SkyCity casino.
Li Dong Xie,48, appeared in the Auckland District Court facing 10 charges laid by the Ministry of Business, Innovation, and Employment.
Xie, an undischarged bankrupt who sometimes goes by the name of Frank, was accused of hiding millions of dollars from the official assignee, who is tasked with distributing bankrupt's assets to creditors.
$19,007,897 won from gambling at SkyCity Casino was said to have been hidden from the assignee, as well as other sums nearing $1.5 million.
The Papatoetoe man was also charged with failing to file a statement of affairs, obtaining credit fraudulently, increasing solvency by gambling, and acting as a director of a business, with the offending alleged to have occurred between 2010 and 2015.
Records show he is the director and shareholder of New Home Town Construction, a business which was struck off in August 2015.
Xie was declared bankrupt in 2010.
At his first appearance on Tuesday Xie entered no plea and will reappear in court later in January.
The charge of hiding the gambling proceeds carries a maximum penalty of three years in jail or a $10,000 penalty.
The Ministry of Business, Innovation and Employment did not immediately respond to requests for comment.