Fuseworks Media

Former construction company director jailed on tax charges

A former construction company director has been jailed on tax charges.

In 2021, Stephen Eugene Foley was found guilty by a jury of aiding and abetting his construction companies (HPTP 2014 Ltd and Point to Point Construction Ltd) of deducting PAYE from employee’s wages but not paying it to Inland Revenue.

In 2022 he was sentenced to 2 years and 8 months’ imprisonment. Following a successful appeal by Foley, the matter came back before the Auckland District Court for resentencing on 16 February 2024.

Foley was then sentenced to 25 months and 2 weeks imprisonment with the judge pointing to the need to denounce and deter this type of offending. Foley was also ordered to pay $120,000 in reparations to IR.

Foley was a director and shareholder of HPTP which was incorporated in 2014 and went into voluntary liquidation in January 2017; and Point to Point which was incorporated in 2016 and went into liquidation in June 2017.

Foley has been the director of many failed companies. He was adjudicated bankrupt in 2001 and again in 2018, and in 2006 he was prohibited from being a director for 2 years and 9 months.

From December 2014 until April 2017 Foley deducted PAYE from his employees’ wages but failed to pay this to Inland Revenue. The total PAYE withheld across both companies was $481,964.57, but the total amount that remains outstanding is $356,132.18.

Foley chose to pay employees and suppliers in preference to paying PAYE to Inland Revenue.

His Counsel has indicated that he may appeal this sentence.


Powered by Fuseworks and Truescope - Media monitoring, insights and news distribution for New Zealand organisations.