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Fraudster's accomplice sentenced

Last updated 10:42 29/11/2012

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A 31-year-old Auckland property developer has been sentenced to nine months' home detention for his role in a scheme to short-change creditors of bankrupt developer Marcus Friedlander.

Ralph Anthony Vuletic pleaded guilty in October to forging documents, using documents to obtain a pecuniary interest and perverting the course of justice. He faced 25 charges brought by the Serious Fraud Office (SFO) under the Crimes Act.

He was sentenced this morning in the High Court at Auckland

Vuletic was the accomplice of convicted fraudster Friedlander. The pair manufactured fake loans to allow Friedlander to control his creditors' payment scheme and avert bankruptcy over debts of $10m.

The offending occurred in 2003 when the duo created a false backdated paper trail which included the sale and purchase of an Albany property owned by Vuletic. It also included an "acknowledgment of debt" creating a fake debt which increased support for Friedlander's creditors' proposal, the Serious Fraud Office said.

Friedlander was bankrupted in 2003.

Vuletic had rubbed shoulders with well-known property developers David Henderson and Nigel McKenna and used to drive a Ferrari, while his fellow offender Friedlander was an insurance broker and property developer.

A high profile Auckland law firm the SFO had investigated in relation to the offending had its ties to the case suppressed by the Court of Appeal.

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