It has been confirmed funds recently recovered from convicted fraudster Michael Swann's assets were mostly from the sale of three properties.
Earlier this year, it was revealed the Government had recovered $2.122 million, with just under $1 million collected in the past six months, but it would not reveal details.
After an Official Information Act request, the Ministry of Economic Development, which was collecting the money from the sale of 51 assets, released figures showing the $865,869 recovered came from the sale of properties in Rowan Court, Wanaka, Macandrew Rd, Dunedin, and Ferntree Dr, Dunedin, funds held in solicitors' trust accounts ($6492) and a lounge suite from MV Townsend, Cromwell, ($500).
The properties all sold for less than their July 2010 values: Rowan Court, $550,000 (recovered $506,572), the value was $695,000; Macandrew Rd $130,000, (recovered $113,927) value $140,000; and Ferntree Dr $250,000, (recovered $238,430) value $280,000.
Swann was convicted in 2009 of defrauding the Otago District Health Board of $16.9 million while he was the board's IT manager between 2000 and 2006.
