Update in SFO prosecution of former Sacred Hill Vineyards group executive and director
Former Sacred Hill Vineyards group executive and director Richard Foddy, who faces charges brought by the Serious Fraud Office, has entered not guilty pleas to those charges and elected a trial by jury.
Mr Foddy is next scheduled to appear in the Hastings District Court on 22 October.
Background:
The SFO announced in June that it had filed charges against Mr Foddy. He faces 18 charges of false accounting (six false accounting charges have an alternate charge of obtaining by deception).
He is alleged to have artificially increased the value of Sacred Hill Vineyards’ wine inventory in quarterly stock valuation spreadsheets and on compliance certificates provided to lender Westpac. The alleged offending is charged as happening in the financial years ending June 2017 to June 2019.
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