Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


SFO confirms investigation into American funds provider

SFO confirms investigation into American funds provider

The Serious Fraud Office (SFO) has confirmed a formal investigation has been commenced into the New Zealand activities of United States based funds provider, Brockstar Group (Brockstar).

Acting SFO Chief Executive, Simon McArley, confirmed that there is reason to suspect that an investigation may disclose serious or complex fraud. Accordingly a Part I investigation had been commenced.

The SFO investigation arises out of two other SFO cases. During both the B’on Financial Services and Derivatek investigations it was alleged that parties involved had sought funding from Brockstar. In both cases substantial sums had been paid as advanced fees in an attempt to secure loans. The loans were never received and the advance fees were not returned.

“The desire to meet these fees may have driven the conduct that was the subject of both investigations. It is important that we address these drivers of financial crime, and in doing so prevent further losses to the New Zealand public,” Simon McArley said.

He also cautioned that the conduct may not have occurred in New Zealand, and would be outside the New Zealand jurisdiction.

“However at the very least we can raise the matter with the US and other overseas agencies with whom we have ties, and see if they are in a position to initiate some action,” he said.

The SFO are interested to hear from anybody who has had interactions with Brockstar. Contact details for the Office are: free phone within New Zealand 0800 109 800 or from overseas +64 (9) 303 0121 or email complaints@sfo.govt.nz

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

'Tea Break Bill' Passes: Gordon Campbell On Bad Labour Laws And Poor Safety

By co-incidence, one of the prime dangers of the government’s new employment relations law has been underlined by the release of the death and injury statistics among workers at New Zealand ports. These are highly profitable enterprises for the port owners.

The Port of Tauranga for instance, is expecting its current full-year profit to be between $78 million and $83 million and other ports are enjoying similar boom times – but they are also highly dangerous places for the people who work on or around the port premises. At the Port of Tauranga, there have been 26 serious accidents since 2011, and two deaths. More>>

 

Parliament Today:

No Charges: Outcome Of Operation Clover Investigation

Police have completed a multi-agency investigation, Operation Clover, into the activities of a group calling themselves “The Roast Busters”. The 12 month enquiry focused on incidents involving allegations of sexual offending against a number of girls in the Waitemata Police district and wider Auckland area... More>>

ALSO:

UNICEF Report: NZ Cautioned On "Stagnating" Child Poverty

An international report by UNICEF has found that child poverty rates in New Zealand have barely changed since 2008, despite similar sized countries significantly reducing child poverty during the recent recession. More>>

ALSO:

Funding Report: Two Pathways For Transport In Auckland

Commissioned by Auckland Council, the group was asked to investigate two possible pathways for raising $300 million per year ($12 billion over 30 years) to pay for the improvements needed to help fix Auckland’s transport system. More>>

ALSO:

Pay Equity: Equal Pay Win In Court Of Appeal

CTU: The Court of Appeal has made a historic decision paving the way for a substantial equal pay claim for aged care workers. More>>

ALSO:

Gordon Campbell: On The TPP Finishing Line, And Amazon’s Woes

If the Trans Pacific Partnership trade deal wasn’t such a serious matter, this would be pretty funny… More>>

ALSO:

TV3 Video: Three Die On Roads Over Labour Weekend

The official holiday period ended at 6am Tuesday, with three deaths on the roads during the Labour Day weekend. More>>

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news