Vicki Ravana Letele was sentenced to three years and two months’ imprisonment, after being found guilty of 10 charges of dishonestly using a document, under Section 228 of the Crimes Act, in September.

The handing down of Letele’s sentence was the culmination of a long-running Serious Fraud Office (SFO) investigation and prosecution

Letele’s convictions relate to property transactions which occurred in the second half of 2010.

At the time of the offending, Letele was the sole director and shareholder of Focus Property Investment Ltd, which was established to broker mortgages for first home buyers on low incomes.

The SFO’s case detailed how Letele and an associate, Ramni Kumar, used fake documents to get mortgage finance for low income families who wouldn’t otherwise have been able to get finance.

The mortgages were then used to buy property from interests related to Letele and Kumar, which generated them a profit that amounted to approximately $3.6 million.

Judge AJ Johns, who presided over the sentencing, said that in white collar crime it is important to denounce the actions of those involved.

SFO director Julie Read said she felt for the investors who had put their trust in Letele to deal with their significant financial transactions.

“The SFO will continue to put such cases before the Court to ensure New Zealand is a safe place to invest.”

She has previously said that it is important, wherever possible, for investors to get advice from reputable advisers and institutions.

* Kumar, who gave evidence at Letele’s trial, entered a guilty plea in January 2014 and was sentenced to 12 months on home detention and 250 hours of community work.