Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Warning – Forestry Investments Illegally Offered

Warning – Forestry Investments Illegally Offered by NZ Forestry Investments Limited

The Securities Commission has banned advertisements for a forestry investment scheme being illegally offered by NZ Forestry Investments Limited. The company is based in Mount Maunganui. The forest is in the Wanganui region. Ross Anthony Collins is the sole director and shareholder of NZ Forestry Investments Limited. The Commission banned advertisements for the scheme because in its opinion they do not comply with the law. To be promoted in New Zealand the scheme must have a registered prospectus and an investment statement. These documents are not available.

The scheme has been promoted in the last two months, particularly in the Bay of Plenty. Investors have been invited to purchase shares at a cost of $5,200 each. The shares are described as being in a company called NZ Forestry Investments (No 3) Limited. No company with that name has been registered with the New Zealand Companies Office. Anyone who has already applied for shares in the scheme is legally entitled to a return of their subscription. People who have subscribed should contact the company for the return of their money. The Commission warns people about paying money to schemes which do not have the required offer documents. A registered prospectus and an investment statement give important information about the people involved in the investment and how your money is being invested. Securities law also prohibits the door to door selling of securities.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news