Preying on elderly woman through Tauranga Christian groups was how an alleged "double act" of conmen operated, a Tauranga jury has be told.

Murray Bryon Provan and Robert Ian South are each defending two charges laid by the Financial Market's Authority, after $645,000 was allegedly transferred from two elderly defendants into their bank accounts.

Provan pleaded not guilty to two charges of obtaining by deception and South pleaded not guilty to two charges of theft from a person in a special relationship.

The offending is said to have occurred between May 2012 and February 2015. The complainants, Gay Rowling and Barbara Gilmore, believed they were investing funds in a software company called Our World New Zealand Limited that said to be on the verge of greatness.

"Provan was able to prey on Gay Rowling and Barbara Gilmore," crown prosecutor Richard Jensen said during closing arguments at the Tauranga District Court on Monday.

"He convinced them he was a nice, christian man, with their best interests at heart. On the basis they were buying shares all but $5,000 went into Our World New Zealand Limited's bank account and all of it fell into the hands of South."

Provan met the women through Church, knew they had access to wealth and talked them into investing with South, says the Crown.

Jensen said Provan assisted set up introductions and transactions from the complainants' bank accounts into Our World New Zealand Limited, run by South, promising them they would "double their investment".

Shortly after each transaction was made Provan's bank account would receive a percentage of the funds in what the crown calls a "kickback".

The fact he was receiving money from the company was never disclosed to the investors.

Our World was setting up some new form of software which Jensen said was supposed to be similar to Bitcoin.

The crown says invested money was used "as if it were their own". Transactions show some was spent on mortgage payments, buying bonus bonds, repaying loans, a spa pool and much was given away.

"They are a double act," Jensen said. "Provan was the man on the ground and South was the figure in the background.

"As soon as the money hit the account it was as good as gone. Two ladies have lost a significant amount of money at a time of their lives where they cannot afford to."

Provan's lawyer Tony Rickard-Simms urged the jury to consider if Provan knew the complainants would lose their money in the investment.

"He believed in Mr South," Rickard-Simms said. "He still does."

Rickard-Simms said Provan was just a middle man providing contact details to the complainants for them to liaise directly with him.

"You [the jury] have to consider if Provan knew what the outcome would be. Provan says he did not see this coming and he had faith in South who seems to be able to surround himself in people who believe in him."

South's lawyer Bill Nabney argued the complainants were "investing in him" and the money invested was never meant to be used as shares.

During email correspondence with the complainants South talked about them purchasing a "share pool" but never said he was going to formally issue shares in the company which would require a share certificate to be drafted and issued.

"Much of the focus in the crown case has been on the use of money," Nabney said.

"When people put money into a company the company decides how to spend the money entirely. Companies use money to give shareholders the best return. We read about companies that have gone bust often and that's what can happen with investments."

Nabney said did not knowingly breach the the trust of the investors and should therefore be found not guilty.

The jury will deliberate on Tuesday.

-Stuff/Matt Shand