Aaron Coupe was sentenced to four years and five months in prison for two charges under the Companies Act at the Auckland District Court in January. Photo: RNZ/Marika Khabazi
A jailed real estate business man - who has caused millions of dollars in losses to business partners and creditors - has given up his fight for permanent name suppression.
Aaron Coupe was sentenced to four years and five months in prison for two charges under the Companies Act at the Auckland District Court in January.
Judge Nevin Dawson had declined Coupe's bid for permenant name suppression shortly after his sentencing, prompting Coupe to appeal that decision.
However, Coupe abandoned his appeal on 13 March.
The Ministry of Business, Employment and Innovation (MBIE) described Coupe as a "serial offender" who was previously pleaded guilty to eight charges under the Insolvency Act, and was sentenced in 2016 to 12 months of home detention, 200 hours of community work, and $75,100 in reparations.
The convictions in 2016 banned him from any involvement in the management of a company for five years.
However, Coupe subsequently took part in managing five companies that led to financial losses for his business partners and creditors, amounting to millions.
Judge Nevin Dawson said at sentencing that the gravity and degree of culpability of Coupe's offending was very high.
"It is apparent that you are very glib huckster, very talented at taking in people with all your tales about over-ambitious projects and you managed to take in experienced businesspersons with your tales.
"You take no responsibility for any of your actions and lay the blame upon every other person or institution with whom you have had dealings."
Coupe's deception occured over several projects - including the development of a property at 48 Greys Avenue in Auckland Central into a luxury hotel.
Coupe's actions also led to significant financial loss to the owners of a spa and hot pool complex at Cardona Valley.
Those who suffered losses as a result of engaging in Coupe's ventures included creditors who are owed $970k in the liquidation of Grey Avenue Investments Limited (owned by Coupe), and creditors owed $2.89 million in the liquidation of Ascent.
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