SFO investigates Rockforte Finance

Friday 10th December 2010

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

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