The Serious Fraud Office (SFO) confirmed on February 15 that it had commenced a formal investigation into gold and precious metal trading company, Grace Holdings NZ Ltd, trading as bullion.buyer.co.nz
Chief executive Adam Feeley said the media reports of investors’ concerns about their investments had resulted in numerous other persons coming forward to contact the SFO.
“Since then, we have moved swiftly to assess these complaints, secure the company’s financial records, and make additional inquiries.
“As a result we have concluded that there are reasonable grounds to believe that an offence of serious fraud may have been committed, and accordingly commenced a formal investigation under Part 2 of the SFO Act,” he said.
Mr Feeley said SFO’s priority was to contact as many investors as possible and coordinate investigation with other agencies with an interest in the matter.
“We are liaising with the Registrar of Companies to ensure that appropriate steps are taken to protect any funds for the benefit of creditors of the company,” Mr Feeley said.
-Serious Fraud Office Press Release