Richard Gregory Beven (41) pleaded guilty to theft in a special relationship and false accounting when he appeared at Queenstown District Court this morning.
However Beven denied another charge of theft in special relationship, of stealing $57,194 from the Primary Health Organisation through his company Lakes After Hours. He elected a judge alone trial on that matter.
Prosecuting Sergeant Ian Collin said Beven transferred $670,713 from the Wanacare Limited accounts to his own personal bank accounts via the internet between August 2011 and October 2015.
He also paid himself a full gross wage and diverted additional funds to ensure PAYE Tax was paid to Inland Revenue on his declared income.
That resulted in a further loss to the company of $59,803.
Sgt Collin said: "Initial analysis of the defendant's bank accounts indicates a high level of spending on lifestyle, including travel both international and domestic, regularly purchasing meals, going to bars and spending at bottle stores, spending at casinos.
"The funds have been used to pay off credit cards, pay rents for himself and his family members, paying leasing and financing on vehicles."
Sgt Collin said in September 2014, Beven spent $23,628 at Queenstown's exclusive The Hills golf resort to fund a 40th birthday party for himself and his identical twin brother.
"He invited the persons from the medical centres he worked with, including victims in this matter, saying that his brother, a successful lawyer from Australia, was funding the event."
Beven also made $388,522 worth of share purchases and subsequent sales between March 2012 and 2015.
"The manner of these transactions indicates they were undertaken to hide the origin of the funds."
At times, there was insufficient funds in the Wanacare Limited account to pay outstanding debts.
Knowing that failing to pay these debts would expose his offending, he re-applied $167,392 from his own accounts.
Therefore the total loss to Wanacare is $563,125. It has also spent $39,385 on accounting and general costs to find out what Beven stole and sort "the mess".
Beven has been remanded in custody until after the lunch adjournment, when Judge Christina Cook will decide his bail application.
Sentencing is October 17. A case review hearing will be heard on August 23 over the charge he denies; stealing $57,194 from Primary Health Organisation through his company Lakes After Hours.
Wanacare Limited was established when a group of medical professionals built a large facility housing Wanaka on Cardrona Valley Road town's two main Medical Practices, along with physiotherapists, a pharmacist and optometrist.
Beven was appointed general manager after being project manager on the build.
