Investigation Launched Into $20 Million Scandal
Investigation launched into $20 million trust scandal
Waipa Local Democracy is today launching an investigation into the Waipa Network Trust following a request from Te Awamutu Grey Power president George Douglas three weeks ago.
Waipa Network Trust has in the past stated a pay-out of $20 million may occur following a tax ruling from Inland Revenue. Now that the ruling has been received the trust is attempting to cover up a conflict between two consultants over the $20 million windfall.
Waipa Local Democracy has labeled the situation as scandalous and made a decision yesterday to add a clause to the WLD Constitution that would allow the investigation, a move in which all information regarding the Waipa Networks Trust will be made public.
Since the initial request, chief investigator David Espin has been preparing for the possibility of an investigation.
“It is very suspicious that the trust has gone silent after promising a press statement two weeks ago,” Mr Espin said.
“The people of the district want to know the truth and they have not been getting it from the trust, therefore we have been asked to investigate and expose the situation to the district.”
“We want to know what has happened to the money. Many people we have talked to believe the money has been squandered and is no longer available for redistribution.”
“We are encouraging people not to lose hope as we will uncover the truth of the situation. It may take time, but we will find the truth behind the scandal,” Mr Espin concluded.