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SFO completes Te Pataka Ohanga investigation

SFO completes Te Pataka Ohanga investigation


The Serious Fraud Office (SFO) has completed its investigation in relation to allegations of misuse of funds held by Te Pataka Ohanga Limited (TPO). The SFO’s investigation did not disclose any criminal offending and the SFO will not be taking any further action.

The investigation specifically considered a number of loans made by TPO to staff and their whānau and the use of TPO credit cards. After considering the scope of any restrictions imposed upon TPO with regard to the use of funds, the SFO does not consider any further action is warranted with regard to the loans. While some expenditure on a TPO credit card related to personal items, the SFO is satisfied on the information available that the card was used in error and that repayments were made. This was the case in relation to expenditure at Trelise Cooper and in relation to the purchase of a wedding dress.

Other issues raised appeared to be attributable to failures in corporate governance. Some of the expenditure on the credit card fell into this category. The SFO understands that TPO has taken steps to address these corporate governance issues.

Should any further information come to light, the SFO will reconsider its conclusions in relation to this matter.

ENDS

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