Man Fined $l400 On Five Charges

Press, Volume CVIII, Issue 31628, 14 March 1968, Page 24

Man Fined $l400 On Five Charges

(New Zealand Press Association)

AUCKLAND, March 13.

An Auckland businessman, John Vincent Michael Kean, was this afternoon fined a total of $l4OO for five breaches of the Exchange Control Regulations. The Court declined an application for suppression of name.

Kean admitted the five breaches, involving a total of $15,154 in United States and Canadian currency. Imposing fines ranging from $2OO to $4OO, Mr N. M. Izard, S.M., said he had to have regard to the intent of the regulations and impose a penalty such that those who broke them were unlikely to profit from a breach. Two charges involved a United States firm. Kean was charged that between November, 1964, and September, 1965, "and between November, 1965, and July, 1966, he failed to offer to the Reserve Bank of New Zealand remuneration totalling $U510,933 received from the firm for services performed wholly or partly in New Zealand. The other charges involved a remuneration totalling sCan422l received from a Canadian firm for services performed partly or wholly in New Zealand in two periods, in 1965 and 19651966.

The last charge was that on October 1, 1965, he transferred to an Auckland firm of sharebrokers a cheque for sCanl2oo drawn on a Canadian bank.

The prosecutor was the Crown Solicitor (Mr E. R. Winkel).