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Convicted fraudster Eugene DeMarco out of the loop as bankruptcy bites

Fighter aircraft claimed in case against bankrupt former Jackson employee and convicted fraudster, Eugene DeMarco. ....

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More than $4m claimed from flyer who defrauded filmmaker Jackson

Because he’s now bankrupt he lost control of his side of a hearing at the High Court in Wellington which ended on Friday with a judge reserving her decision on The Vintage Aviator and a related trust’s claim for up to $4.2 million from DeMarco and his company.
The company was put into liquidation this week.
The Official Assignee, who is now in charge of DeMarco s estate, believes a WWII fighter plane, a Corsair, of unknown value, will be a prime asset to meet as yet unknown creditors’ claims.
But the Official Assignee’s lawyer, Gareth Neil, admitted in court to having no idea how to go about selling a vintage plane. ....

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'Peter robbed to pay Peter': Sir Peter Jackson's case to recoup from fraudster

DeMarco borrowed the money to buy shares in a company that owned two prized World War II fighter planes.
But the Jackson trust was not repaid and, by 2016, with interest the debt had swollen to $1.1 million.
To try to repay the loan, DeMarco diverted to his own company more than $2m from an Auckland aviation charity that was to buy three planes from The Vintage Aviator.
He negotiated the sale of the three planes, but at a price inflated by a “secret commission” of $621,000.
Piers Fuller/Stuff
Eugene DeMarco was a production manager for The Vintage Aviator Ltd. (File photo) ....

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