Kelly Simon Tonkin (52) appeared in the Christchurch District Court today and pleaded guilty to charges of ‘False accounting’, ‘False statement by promoter’ and ‘Forgery’
Mr Tonkin has been remanded on bail until 16 September for sentencing.
The charges related to his management of the Penrich Global Macro Fund which was a Cayman Islands registered company set up in September 2004. The Fund invested in a range of financial instruments including fixed income securities and currency instruments. Significant losses were concealed by Mr Tonkin who continued to solicit investment in the Fund. It was placed into voluntary liquidation by its shareholders in April 2020.
Penrich Global Macro Fund was part of the Penrich Group, which Mr Tonkin controlled.