Sharechat Logo

SFO looking into 'financial irregularities' at Waitangi National Trust

Friday 12th January 2018

Text too small?

The Serious Fraud Office is investigating the Waitangi National Trust after the discovery of "financial irregularities" at the Waitangi Treaty Grounds administrator. 

Acting chair Dennis McBrearty said in a statement that the organisation looked into the issue when it became aware, and that it has now been passed on to the white collar crime investigator, which is making its own inquiries. 

"The matter is now with the SFO and we will await the findings of their official enquiry," McBrearty said. "We are unable to comment any further pending the outcome of the SFO enquiry."

The trust was set up by an act of Parliament to administer the 506-hectare Waitangi Treaty Grounds estate with the board to consist of representatives of people directly associated with the site. The Governor General also has the right to be patron of the trust. 

The trust's last lodged accounts with the Charities Register were for the year ended June 30, 2015, which showed it had cash and term deposits totalling $7.4 million. That year it received government grants of about $1.4 million and a further $2.6 million from community organisations. 

Legislation governing the trust board was updated in 2015 to remove Crown representatives as formal members of the board. When introducing amendment legislation in 2014, former Arts, Culture and Heritage Minister Chris Finlayson said the board's responsibilities went beyond simple maintenance of the site and that the legislative changes coincided with plans to upgrade the existing visitor services and promote it as a tourist attraction. 

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares fall as MSCI changes debated, Mercury falls, Fletcher gains
NZ dollar heads for 1.6% weekly fall as greenback finds favour on rate hike view
FMA keeping close tabs on Australian Royal Commission as AMP chief Meller departs
NZ's R&D tax incentive plan viewed as positive by business
SkyCity wants at least A$200M for Darwin casino; private consortium most likely buyer: report
Syft sales jump more than 50%, profit growth misses target on production costs
Fletcher shares gain after shortfall bookbuild cleared at premium to offer price
T&G Global to sell Kerikeri assets to Seeka in deal worth about $40m
USX: Syft Technologies update to shareholders
NZX first-quarter revenue edges up with busier secondary market

IRG See IRG research reports