Briefs: Smartpay raises capital and three years jail for Westpac bank fraud

Smartpay hopes to achieve a second stock market listing on the Australian Securities Exchange by the end of 2012, Fairfax Media reported. The New Zealand-based maker of payment terminals foreshadowed its interest in an ASX listing 18 months ago. Shareholders in Smartpay yesterday approved the issue of NZ$13 million in new shares. It also has new funding in place from ASB. The firm incurred a loss after tax of NZ$12.1 million in the year to March 2012. Revenue was down 39 per cent.

A former bank employee in New Zealand who defrauded clients of Westpac of NZ$1.4 million will serve a minimum of three years in jail, Radio New Zealand reported. Susan Bourton committed some of the offences while on bail for earlier fraud charges. She committed the offences between 2001 and 2007. She pleaded guilty to some charges and was found guilty of all the remaining charges at a trial.