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Steven Robertson convicted on 38 charges relating to PTT Ltd

19 August 2019

The Financial Markets Authority (FMA) says Steven Robertson has been convicted in the Auckland High Court of 38 charges relating to PTT Limited and associated entities.

The FMA says Mr Robertson was found guilty of the following charges, which were brought by the Crown under the Crimes Act 1961:

  • 23 counts of theft by a person in a special relationship under section 220 of the Crimes Act 1961
  • 11 counts of obtaining by deception under section 240 of the Crimes Act 1961
  • 4 counts of dishonestly using a document under section 228 of the Crimes Act 1961.

The FMA says Mr Robertson was found to have misappropriated funds deposited by clients who believed that those funds were to be traded on their behalf, or were paid as consideration for the purported purchase of shares in PTT Ltd or an associated entity. He was also found to have withdrawn funds from credit card accounts of some clients without the client’s authority and knowledge.

“We are satisfied with this verdict, as Mr Robertson’s actions harmed many New Zealanders,” says Karen Chang, FMA Head of Enforcement.

Mr Robertson was remanded in custody ahead of sentencing on 30 October 2019.

Note that the Steven Robertson who has been convicted should not be confused with Stephen Robertson, a registered Auckland financial advisor and mortgage broker (www.mymoney.net.nz).

Last updated on the 16th September 2019