Former Rotorua petrol station owner Leo Gao has pleaded guilty to seven charges of theft.
Gao was dubbed the ‘Runaway Millionaire’ when he fled the country after Westpac Bank mistakenly loaded a $10 million overdraft onto his account in 2009.
Along with partner Kara Hurring, the pair left the country with more than $6 million.
Gao was arrested crossing from China to Hong Kong in September 2011, following a two and half year police investigation.
The arrest came after an Interpol red alert was triggered when he tried to cross the border.
He was extradited back to New Zealand to face 16 counts of theft and 11 of money laundering in relation to the transferring of the money into separate accounts.
He has entered a guilty plea to seven counts of theft during an appearance in the Auckland District Court today.
Gao has been released on bail and is due to be sentenced in the Rotorua District Court on August 24.