The Serious Fraud Office says Eugene John DeMarco, 57, of Wellington has been charged in relation to funds paid for the purchase of reproduction aircraft and the unauthorised use of an aircraft as security to obtain a loan.

It says Mr DeMarco first appeared before the Wellington District Court in May 2018, where he pleaded not guilty to the fraud charges and was remanded on bail.

"Mr DeMarco faces charges of ‘Theft by person in a special relationship’ (section 220 Crimes Act 1961) or ‘Obtaining by Deception’ (section 240), as alternative charges, in relation to the sale of three reproduction vintage aircraft to the New Zealand Warbirds Association Inc. He arranged the sales in his capacity as production manager for The Vintage Aviator Ltd."

The SFO says it has also charged Mr DeMarco with ‘Theft by person in a special relationship’ and ‘Obtaining by Deception’ in relation to the unauthorised use of another vintage aircraft as security to obtain a loan.

Mr DeMarco, who is a citizen of the United States and New Zealand resident, is scheduled to stand trial in the Wellington High Court on 26 August.

The Vintage Aviator Ltd is a Wellington-based company that manufactures reproductions of First World War-era aircraft. Sir Peter Jackson, Fran Walsh and Philippa Boyens jointly own the shares in the company.