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A man who admitted defrauding a company of $684,278 has been granted bail while he tries to raise funds to pay reparations.

Barry Harvey Smith, 66, a retired married man, pleaded guilty to a series of charges of dishonestly using a document, fraud, and obtaining by deception, when he appeared in Christchurch District Court today.

Police prosecutor Sergeant Mark Berryman said Smith had set up a bank account and directed payments for the company into it over a period.

When interviewed by the police, Smith admitted the offending and had no real explanation.

Defence counsel Paul McMenamin asked for Smith to be granted bail during the remand to a crown sentencing session on July 1.

He said Smith had significant health problems and was raising funds to pay a substantial amount of reparations.

Judge Ian Thomas granted bail and and ordered a pre-sentence report including the options for home detention.

He continued a suppression order on the name of the company, but the suppression on Smith's name was lifted.

Source: nzherald

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