Final defendant arrested at border in SFO mortgage and investment fraud case

Gerard Peters, who faces one charge of obtaining by deception related to a $1.8 million investment fraud, has been overseas since October 2019. A warrant for his arrest was issued in October 2023.

Mr Peters was arrested at the border on his return to Auckland yesterday. He appeared in the Manukau District Court this morning, and was remanded on bail without plea until his next appearance on 23 November 2026 in the North Shore District Court.

Mr Peters is one of five defendants that have been charged by the SFO in relation to this case. Two of his brothers, Christopher Peters and Francis Peters, and associate Gur Raj Bhachu have previously pleaded guilty to their part in the wider scheme, which involved fraudulently obtaining credit and properties. His mother, Serene Peters, has also been charged in relation to the investment fraud. She has pleaded not guilty.

Background:

• Christopher Peters pleaded guilty in the Auckland District Court in May to four charges of obtaining by deception related to a $4.47 million mortgage fraud scheme (two of the four charges were representative charges), and one charge of obtaining by deception related to a $1.8 million investment fraud. He is due to appear for sentencing this Friday, 30 October 2026.

• Gur Raj Singh Bhachu pleaded guilty in September 2025 to 12 charges relating to four properties involved in the alleged mortgage fraud. He was sentenced in January to nine months’ home detention.

• Francis John Peters pleaded guilty in April 2024 to three charges of obtaining credit by deception and one charge of obtaining property by deception. He was sentenced to nine months and two weeks’ home detention.

• Serene Peters was arrested on her return to New Zealand in August 2026. She faces one charge of obtaining by deception related to the $1.8 million investment fraud. She has pleaded not guilty to that charge.