A sickness beneficiary who had more than $170,000 transferred
into his bank account in error withdrew the money and spent
the lot on Holdens.
Denys Jeremy Douglas, 61, from Hastings, pleaded guilty to
seven charges of using a document and three charges of money
laundering when he appeared in the Napier District Court
yesterday, Fairfax reported.
A summary of facts said the BNZ bank had agreed to loan
Douglas $7000 for home maintenance, which would have taken
his mortgage to $172,250.
However, the bank accidentally credited his account for the
Within a month, Douglas had withdrawn the money and bought
three Holden vehicles, which he registered in other people's
He told the bank he had won the money in a lottery and
claimed it was "normal" to make $50,000 withdrawals, Fairfax
It was not until his mortgage repayments went into arrears
that the bank realised its mistake.
Douglas was remanded on bail until his sentencing later this
In a statement to APNZ, a BNZ spokeswoman said Douglas used
funds that were incorrectly allocated to his account due to a
"When BNZ contacted Mr Douglas he said he won some money from
"Debt recovery was undertaken through the bank's usual
processes and the matter was forwarded to police for criminal
The spokeswoman said nobody was available to be interviewed
on the subject.