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30 June 2025

Murray McClune

Background 

Murray McClune, a former financial adviser, pleaded guilty on Friday, June 27 2025 to two charges of theft by a person in a special relationship (s 220(1) of the Crimes Act 1961), following an investigation by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko. 

Mr McClune had worked in the insurance industry since the late 1960s. Between 2016 and 2022 Mr McClune procured approximately $1.7 million from two sets of elderly clients – on the basis that he would invest the funds on their behalf. Instead, he used some of those funds for his own personal purposes.  To give the impression that their funds remained invested and to conceal his unauthorised dealings, he issued falsified statements to the clients, until his offending was detected when he was unable to repay the funds on demand. This case was originally brought by the FMA but became a Crown prosecution after Mr McClune initially elected trial by Jury, before deciding to plead guilty. 

Timeline 

Murray McClune has pleaded guilty to two charges of theft by a person in a special relationship (s 220(1) of the Crimes Act 1961), following an investigation by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko.