About $7 million of assets linked to the $16.9 million fraud at the Otago District Health Board have been tracked down, although it is believed many more are still hidden, it was revealed in the High Court at Dunedin yesterday.
Crown counsel Marie Grills said convicted fraud Michael Swann had "done nothing to assist in the return of property" and had "indeed lied in affidavits".
Proceeds of Crimes Act proceedings against Swann by the Solicitor-general were being heard before Justice French as the Crown sought restraining orders against 16 respondents to replace interim orders granted by Justice Lynton Stevens.
Ms Grills said material before the court showed Swann had taken steps himself, or instructed associates, to hide property after civil proceedings were laid by the health board.
Seized boats also appeared to have been stripped of expensive equipment, she said.
"There is clear evidence of a lifestyle which both Mr Swann and [his then wife] Ms Devereux have enjoyed by way of a holiday house, cars, expenditure on lifestyle, food, purchasing of expensive items of electrical equipment and antiques - much of that we have been unable to locate."
While about $7 million of assets had been recovered so far, "much of it has been devalued through not being looked after by Mr Swann".
She would "even go so far to say" property which the Crown had allowed Swann's estranged wife, Anna Devereux, to continue to use had not been looked after.
Ms Grills cited a $3000 barbecue which had deteriorated after being left uncovered outside at the family's Wanaka holiday home.
