King brothers to be sentenced over NAB fraud

By: Chris Smith


Twins Tony and Peter King, former Port Macquarie bus tycoons, will face separate sentencing hearings for defrauding the National Australia

Twins Tony and Peter King, former Port Macquarie bus tycoons, will face separate sentencing hearings for defrauding the National Australia Bank (NAB) of millions of dollars.

Tony King was convicted in 2007 of defrauding the bank of $44 million.

He claimed the King Brothers bus company owned 144 used Mercedes Benz buses when he knew they did not exist.

He is already serving time and will be sentenced on Thursday on a new charge of defrauding the bank of a further $65 million.

Twin, Peter King, is out on bail.

He will be sentenced in early November on the combined charges of defrauding NAB of $109 million.

Both have pleaded guilty to the most recent charges and will be sentenced in the Downing Centre District Court in Sydney.

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