Michael Colosimo is sentenced to two years and six months in jail for fraudulently overstating the financial position of the Kestrel on the Landing bar and restaurant.
He was found guilty by a jury in September of this fraud and he was sentenced in the Tauranga District Court today.
Michael Colosimo is being imprisoned for his fraud conviction.
Colosimo denies his involvement in forging the financial documents in question, and using the document for the purpose of selling the business to Michael and Sue Dyke.
Judge Peter Rollo summed up sentencing by saying that the Dykes contributed to the downfall of the business, but Colosimo failing to disclose the true profitability of the business played a big factor.
2 comments
sit down and have a deeeep deep think!!
Posted on 11-10-2011 16:23 | By waitandwatch
two years and sixmonths. yes. what will u do Mr. Colosimo. Think over what u did and say which i never did that. it is never too late. come out and i am sure after two years u will work it out. Do something ten times better or worse??? it is up to u.
Great news
Posted on 11-10-2011 19:57 | By DaKiwiBean
This would have to be the best news of the Day. Many, many happy people around Tauranga and NZ will be very please tonight....The legal systems has worked here. well done..
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