Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Investor suspicions lead to fraud charges

20 June 2017
Investor suspicions lead to fraud charges

Paul Clifford Hibbs (48), has appeared in the Christchurch District Court today in relation to a Serious Fraud Office (SFO) prosecution.

Mr Hibbs faces Crime Act charges of ‘False statement by promoter’, ‘Theft by person in special relationship’, ‘Using forged documents’ and ‘Forgery’.

The SFO alleges that from around 2008, legitimate businesses owned and operated by Mr Hibbs, Cameron Gladstone Investments Limited and Hansa Limited, developed into a Ponzi scheme. It is alleged that Mr Hibbs provided clients with false reports in relation to their investments - for example, that he sold investments without clients’ knowledge, that he falsely reported the proceeds of sales were held in cash management accounts or that investments had been purchased. Further, it is alleged that Mr Hibbs used investors’ funds for purposes other than required, for example, using clients’ funds to make payments of capital or investment returns to other clients.

SFO Director, Julie Read said, “'The SFO alleges that Mr Hibbs went to some lengths to ensure that information provided to investors looked genuine. Investors who suspected that that their money was being misappropriated took the right action in reporting the matter to the FMA who referred the matter to the SFO.”

Mr Hibbs will reappear in the Christchurch District Court on 12 July 2017.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>




Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>


Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>


Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>


(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>






Featured InfoPages

Opening the Election