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Missing millions accused to stay behind bars

Published: 12:36PM Thursday January 05, 2012 Source: Fairfax

  • Leo Gao (Source: ONE News)
    "Leo Gao - Source: ONE News

The man known as the "accidental millionaire" has appeared briefly in Rotorua District Court this morning but will remain behind bars for now.

Leo Gao, 31, faces 16 charges of theft and 11 of money laundering after Westpac accidentally loaded a $10 million overdraft on his account in April 2009 rather than the $100,000 he had applied for.

The overdraft was to keep his struggling business, a Rotorua service station, afloat.

When he realised the bank's error he allegedly skipped the country with his partner Kara Mary-Jo Hurring and the bulk of their windfall.

Gao had intended to apply for electronically-monitored bail today but instead that application will be lodged on January 23.

The delay is so a report can be prepared on the suitability of his listed bail address.

If the court determines the address to be suitable, then bail may be granted.