{"id":61562,"date":"2025-10-06T03:03:09","date_gmt":"2025-10-06T03:03:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/61562\/"},"modified":"2025-10-06T03:03:09","modified_gmt":"2025-10-06T03:03:09","slug":"former-financial-adviser-murray-mcclune-jailed-after-1-7m-theft-from-elderly-clients","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/61562\/","title":{"rendered":"Former financial adviser Murray McClune jailed after $1.7m theft from elderly clients"},"content":{"rendered":"

FMA head of enforcement Margot Gatland said McClune\u2019s conduct was \u201cboth deliberate and dishonest, and involved a gross breach of trust\u201d.<\/p>\n

\u201cThe conduct arose in the course of his role as a financial adviser, a position he used to take advantage of his clients.\u201d<\/p>\n

McClune was also permanently banned from holding directorships, management positions, and providing financial advice and client money and property services, which he did not oppose.<\/p>\n

\u201cBanning McClune ensures protection of the public and deters others from committing breaches,\u201d Gatland said.<\/p>\n

McClune has a previous conviction for a charge of obtaining by deception. <\/p>\n

His victim in that case was well-known to him as a good family friend, and McClune was a financial adviser to her and her late husband for over 40 years. <\/p>\n

After her husband died in 2007, McClune advised her that he could make an increased gain on her superannuation savings which would be ready for her when she turned 65 in 2015. <\/p>\n

Between 2009 and 2010, McClune made withdrawals from his victim\u2019s investment funds, taking $203,500 over an eight-month period.<\/p>\n

Listen and subscribe to the Today in Business<\/a> podcast – the top headlines from the NZ Herald business team summarised and delivered by an AI voice as an easily digestible recap.<\/p>\n","protected":false},"excerpt":{"rendered":"FMA head of enforcement Margot Gatland said McClune\u2019s conduct was \u201cboth deliberate and dishonest, and involved a gross…\n","protected":false},"author":2,"featured_media":61563,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[15140,50493,6935,74,1558,138,23845,15453,1644,2740,71,3368,14641,50492,1132,130,17700,111,139,69,9215,4744,131,14168,1529,1530],"class_list":["post-61562","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-15140","tag-17m","tag-adviser","tag-after","tag-been","tag-business","tag-clients","tag-elderly","tag-financial","tag-former","tag-from","tag-guilty","tag-jailed","tag-mcclune","tag-million","tag-more","tag-murray","tag-new-zealand","tag-newzealand","tag-nz","tag-pleading","tag-stealing","tag-than","tag-theft","tag-three","tag-years"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/61562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=61562"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/61562\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/61563"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=61562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=61562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=61562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}