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Life coach convicted of mortgage fraud

The “life coach” of the Kahui twins’ mother, Macsyna King, has been found guilty of eight charges of mortgage fraud.

Wednesday, October 17th 2012, 6:58AM 1 Comment

by Susan Edmunds

Fifty-one-year-old Shane Charles Wenzel, an Australian who also goes by the name Tane Rakau, was yesterday found guilty in the Manukau District Court of eight charges brought by the Serious Fraud Office and not guilty of 12 charges.

Wenzel was central to King’s alibi as to why her sister's mobile phone routed a call through a Mangere cell tower at a time when she and her sisters claimed to be in West Auckland after the deaths of Chris and Cru Kahui.

He was her sister’s boss and she told an inquest that he had told spotted them in a company car and told her sister to go and change cars.

Wenzel was facing 17 charges under Section 228(b) of the Crimes Act of using documents dishonestly with intent to obtain a pecuniary advantage, and two charges under Section 229A of using a document with intent to defraud (for offences occurring pre October 2003). In addition, Wenzel faced a charge under Section 45 of the Serious Fraud Office Act, of failing to comply with a notice issued by the Office. He was found not guilty of this charge.

The other charges relate to dishonest loan applications arising from the sale and purchase of properties in South Auckland during the significant upturn in the property market between May 2003 and October 2004.

He had earlier been sentenced to five years over a $4.5 million mortgage fraud involving his hapu, but all 36 convictions were quashed and a retrial ordered.

Acting SFO Chief Executive, Simon McArley said, “Shane Wenzel encouraged loan applicants to submit false documents to lenders. It is important that offenders be brought to account for such conduct.”

Wenzel is due to reappear in the Manukau District Court for sentencing on 23 November.

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Comments from our readers

On 17 October 2012 at 10:13 am allistar walker said:
If he is guilty I hope he has the book thrown at him. There is no place in our industry (Financial Advisory - Mortgage Brokers)for any tinge of grey.

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 5.44 - - -
AIA - Go Home Loans 7.99 5.99 5.69 5.69
ANZ 7.89 6.59 6.29 6.29
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 5.99 5.69 5.69
ASB Bank 7.89 5.99 5.69 5.69
ASB Better Homes Top Up - - - 1.00
Avanti Finance 8.40 - - -
Basecorp Finance 9.60 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.94 - - -
BNZ - Rapid Repay 7.94 - - -
BNZ - Std 7.94 5.99 5.69 5.69
BNZ - TotalMoney 7.94 - - -
CFML 321 Loans 6.20 - - -
CFML Home Loans 6.45 - - -
CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 5.79 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 7.65 5.99 5.75 5.69
Co-operative Bank - Standard 7.65 6.49 6.25 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.40 6.10 -
First Credit Union Standard 8.50 7.00 6.70 -
Heartland Bank - Online 7.49 5.65 5.55 5.55
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society ▼8.60 6.75 6.40 -
ICBC 7.49 5.99 5.65 5.59
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 7.75 6.89 6.59 6.49
Kiwibank - Offset 8.25 - - -
Kiwibank Special 7.75 5.99 5.69 5.69
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 8.44 5.95 6.09 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 7.99 6.95 6.29 6.29
SBS Bank Special - 6.15 5.69 5.69
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 5.44 5.15 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.75 - - -
TSB Bank 8.69 6.49 6.49 6.49
TSB Special 7.89 5.69 5.69 5.69
Unity 7.64 5.99 5.69 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society 8.10 6.05 5.79 -
Westpac 8.39 6.89 6.39 6.39
Westpac Choices Everyday 8.49 - - -
Westpac Offset 8.39 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 6.29 5.79 5.79
Median 7.99 6.02 5.79 5.69

Last updated: 20 November 2024 9:45am

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