Friday 10th December 2010 |
Text too small? |
The Serious Fraud Office (SFO) has started an investigation into the affairs of Gisborne company Rockforte Finance.
Rockforte was placed into receivership in May owing 77 investors $3.25 million.
SFO chief executive Adam Feeley said the investigation had regional significance.
"Although not large in dollar terms, this is a case that has had a large impact on a local community. Therefore the investigation fits well with the SFO's objective of restoring public confidence and improving financial security of New Zealand investors, within that community," Mr Feeley said today.
The Securities Commission and the national enforcement unit of the Ministry of Economic Development were also looking at matters relating to the company.
Most investors in Rockforte were covered by the Crown retail deposit guarantee scheme.
The SFO said Rockforte was the 17th finance company it had investigated since 2007. Of those, nine investigations are ongoing and, to date, five had resulted in criminal charges.
NZPA
No comments yet
Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director