He pleaded guilty in the Auckland District Court today to seven counts of theft. The offending began on April 24, 2009, when Gao transferred $500,000 out of his $10m Westpac overdraft.
In several instalments, the largest of which was $2.3m, Gao transferred $6,782,000 into his account before he and Hurring fled to China.Gao left first on April 29, 2009, with Hurring allegedly following him on May 3.The banking error was not discovered until May 5 and a scramble to get back the missing millions still left $3,872,000 unrecovered. About $3m is still outstanding.
Gao, 31, was finally arrested, crossing from China to Hong Kong in September 2011, 2 1/2 years after Rotorua police launched an investigation.Gao’s arrest came after an Interpol “red alert” was triggered when he tried to cross the border from mainland China to Hong Kong.The Interpol warrant stated Gao was wanted by Rotorua District Court on charges of theft and money laundering.
Detailed news link: click here