Third defendant pleads guilty in SFO’s complex mortgage and investment fraud case
A third defendant has today pleaded guilty to his part in a complex mortgage fraud scheme and an investment fraud scheme alleged by the Serious Fraud Office to have been run by multiple members of an Auckland family.
Christopher Peters pleaded guilty in the Auckland District Court to four charges of obtaining by deception related to a $4.47 million mortgage fraud scheme (three of the four charges were representative charges), and one charge of obtaining by deception related to a $1.8 million investment fraud.
Following the guilty pleas, the Crown determined to offer no evidence to charges against Robert Peters, Christopher Peters’ brother. As a result, the Court dismissed the charges against Robert Peters. A trial was set to commence today for both parties.
Christopher and Robert Peters were charged by the SFO alongside their brothers, Gerard Peters and Francis Peters, and their mother, Serene Peters. Their associate, Gur Raj Bhachu, also faced charges.
Francis Peters and Mr Bhachu have both previously pleaded guilty and been sentenced for their part in the mortgage fraud scheme.
Christopher Peters’ part in the complex mortgage fraud involved making false representations to banks and conveyancing solicitors to obtain bank loans totaling $4.47 million for four residential properties. His offending included providing false documents relating to his employment and salary, the purchase price of properties and cash gifts used to help fund the property purchases.
Christopher Peters’ part in the investment fraud involved making false representations to an investor to obtain $1.8 million. He offered investments in low-risk share and bond portfolio securities held by fund managers in Singapore. To encourage the investor to invest, Christopher Peters advised that the investment funds would be insured by an insurance policy issued by Lloyd’s of London, which did not exist.
“This is a key milestone in our prosecution of this case, which is incredibly complicated and involves multiple victims and defendants,” says SFO Director Karen Chang.
“Mortgage fraud doesn’t just impact our financial institutions. It can have ripple effects across the economy, raising borrowing costs, artificially inflating house prices, and undermining fairness and trust.”
“Investment fraud of this nature misleads victims into decisions they would not otherwise make, often resulting in significant losses. These schemes diminish public confidence, deter participation in legitimate markets and undermine the integrity of the financial system”.
Christopher Peters is due to appear for sentencing on 30 October 2026.
More information
For further details about the case see our previous releases and case history timeline:
- Second defendant sentenced in SFO mortgage fraud case (20 January 2026)(external link)
- Defendant sentenced in mortgage fraud prosecution (15 August 2024)(external link)
- Latest defendant named in mortgage and investment fraud prosecution (7 August 2024) (external link)
- Defendant pleads guilty in mortgage fraud scheme (30 April 2024) (external link)
- Case history timeline(external link)
About the Serious Fraud Office
The SFO is responsible for investigating and prosecuting serious or complex fraud, including bribery and corruption in New Zealand. With a focus on maintaining integrity and trust in the financial system, the SFO has developed strategic areas of focus to ensure it has the greatest impact with the cases it takes on.