Shirley Anne Johnston, 66, admitted one representative charge of obtaining the money by deception for her role in the fraud.

A romantic attachment to recidivist fraudster Stephen Gubb ended badly for two women.

The first was his Auckland wife Helen, who was 13 years his junior and the mother of their two young children when she was jailed in 2003.

On Monday, in the Christchurch District Court, his more recent wife, Shirley Anne Johnston, 66, admitted her part in Stephen Gubb's most recent fraud.

JOHN KIRK-ANDERSON/STUFF The Izone Southern Business Hub at Rolleston, south of Christchurch.

She pleaded guilty to getting $150,000 of commissions in a fraudulent scheme cooked up by Gubb.

READ MORE: Convicted fraudster Stephen Gubb fired from Tekapo and Selwyn contracts

Johnston was a real estate agent for Phoenix Real Estate (Phoenix Harcourts) in Christchurch when Gubb was a property consultant for Hughes Developments which supervised the Izone Industrial Park project in Rolleston for the Selwyn District Council.

Between 2007 and 2015 he was paid a salary to sell land and other packages in the development. Real estate agents who introduced buyers earned a commission.

Gubb sold land himself but he and Johnston pretended she had organised 13 deals and therefore was entitled to commissions on each one.

Her firm was paid about $300,000 of which about $150,000 was paid to Johnston. Harcourts has repaid the full $300,000 to the Selwyn District Council.

Johnston, who lives in Wanaka, will be sentenced on September 20.

Judge David Saunders asked for a report on her suitability for home detention.

In March this year, Gubb was jailed for two years and nine months for his role in the Izone fraud.

His Auckland offending, in which his wife Helen was embroiled, involved 100 unauthorised withdrawals from the accounts of apartment and property companies.

The Serious Fraud Office said "the actual loss figure" for Stephen Gubb's offending was $855,000 while the loss figure for Helen Gubb was $145,000.

The couple generated false accounts and bank statements to conceal their offending.

At the time the couple owned a substantial rural property and Gubb drove the latest BMW.

Helen claimed she had been subjected to "psychological abuse".

In December, 2003, Auckland District Court judge Simon Lockhart sentenced Stephen Guff, then 48, to four years jail.

He sentenced Helen Gubb to nine months' jail, deferred for two months with the right to apply for home detention. Their children were 5 and 7 at the time of sentencing.

Hughes Developments managing director Robin Hughes said he was over the saga and happy to let justice take its course.

He believed Johnston had not been "naive or unaware".

He felt sorriest for Stephen Gubb's children.

"What sort of father would do this to his children, twice," he said.

"What a way to ruin your life."