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SFO end investigation into Kidicorp Group
The Serious Fraud Office (“SFO”) today announced that it had closed its investigation into Kidicorp Group Ltd.
The SFO began its investigation on 30 June 2010 after considering allegations of fraud relating to funding received from the Ministry of Education
Kidicorp Group Ltd is based in Tauranga and owns/operates approximately 140 early childhood education licences throughout New Zealand.
The company receives funding subsidies from the Ministry of Education in direct relation to the hours qualified teachers spend with the children at these centres.
Chief Executive, Adam Feeley, said that the investigation team had analysed a large quantity of documents and electronic exhibits, as well as carrying out a number of interviews of Kidicorp staff.
“This has been a thorough investigation and we are satisfied that there is insufficient evidence which would warrant the laying of criminal charges.”
Mr Feeley added that while the investigation identified matters of legitimate concern, they were ultimately administrative matters for the Ministry of Education to consider if appropriate.
Ends
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