The Serious Fraud Office (SFO) has commenced Part II of its investigation into NZF Group Limited, NZF Money Limited and their related companies.
NZF Money has traded as a finance company and primarily provided commercial and residential loans.
The company was placed into receivership on July 22, 2011, owing debenture- holders approximately $16.4 million.
SFO and the Financial Markets Authority (FMA) have been assessing a range of allegations relating to the conduct of the group.
The primary focus of the SFO assessment relates to alleged related party transactions between members of the group, its directors and officers.
The transactions cover a period from 2006 to the present.
SFO Chief Executive Adam Feeley said, “We are extremely conscious of the need to respond quickly where material concerns arise. We are satisfied that there are valid grounds for an investigation into the wider group and that there is a legitimate interest in publicly advising investors of this investigation.”
Acknowledging the assistance of FMA, he said that the public can be confident that the two regulators and law enforcement agencies are working closely on these matters.
Investors who have information relating to this case that may be of interest to the SFO may contact the investigation team on 0800-109- 800.
A Serious Fraud Office Press Release