1 April 2020
By email: Jimroseeconomics@gmail.com
Dear Mr Rose Request for information relating to Serious Fraud Office (SFO) prosecutions I refer to your email dated 14 March 2020 requesting the following information: “1. The names of the serious fraud office prosecutions in connection with the Crown retail deposit protection scheme 2. The names of the serious fraud office prosecutions into Ponzi schemes in the last 15 years” The information you have requested has been considered under the Official Information Act 1982 (OIA). We have addressed each item in turn below.
The names of the serious fraud office prosecutions in connection with the Crown retail deposit protection scheme The SFO brought prosecutions against the following finance companies in connection with the Crown Retail Deposit Guarantee Scheme: 1. South Canterbury Finance Limited; and 2. Rockforte Finance Limited. Further information about these prosecutions can be found on https://www.sfo.govt.nz/n170.html and https://www.sfo.govt.nz/n165.html.
our
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The names of the serious fraud office prosecutions into Ponzi schemes in the last 15 years A Ponzi scheme is typically understood to involve seeking investments funds and using the funds obtained from new investors to pay returns to existing investors in order to keep the scheme going. Typically, little or no genuine investment is occurring. Although this type of conduct may be present in the offending we prosecute; other elements of the offending may be charged instead. The cases set out in the table below indicates the number of prosecutions that contained elements of a Ponzi scheme, but the charges laid in each prosecution may not necessarily reflect this. We also note that this information is based on the information we currently hold, and there may be some prosecutions with Ponzi type characteristics not listed.
Name of prosecution Lakeland Wealth Creations Ltd Warren Pickett B’On Financial Services Limited Datasouth Finance Limited Loizos Michaels Investment Solutions Limited & Others Derivatek New Zealand Limited
Year prosecution commenced 2005
Further information – media releases Not available.
2009 2010
https://www.sfo.govt.nz/n222.html https://www.sfo.govt.nz/n110.html
2011
https://www.sfo.govt.nz/n173.html
2012 2012
https://www.sfo.govt.nz/n223.html https://www.sfo.govt.nz/n189.html
2012
https://www.sfo.govt.nz/n210.html
Chalmers Cameron Investment Limited Grace Holdings NZ Limited John Milne Ross Asset Management Limited & Others Strategic Planning Group Limited & Others Linnet Lewis Blackfort FX (Arena Capital Ltd)
2012
https://www.sfo.govt.nz/n214.html https://www.sfo.govt.nz/n236.html
2012
https://www.sfo.govt.nz/n233.html
2013 2013
https://www.sfo.govt.nz/n318.html https://www.sfo.govt.nz/n257.html
2013
https://www.sfo.govt.nz/n273.html
2013 2016
Shane Scott
2016
Hansa Ltd & Others
2017
Kelvin Clive Wood
2018
Russell Angus Maher
2019
Barry Kloogh
2019
https://www.sfo.govt.nz/n288.html https://www.sfo.govt.nz/sfoalleges-fictitious-forex-trading-andprofits https://www.sfo.govt.nz/manadmits-to-deceiving-friends-andassociates https://www.sfo.govt.nz/investorsuspicions-lead-to-fraud-charges https://www.sfo.govt.nz/forextrader-pleads-not-guilty-to-7million-fraud https://www.sfo.govt.nz/forexbroker-russell-maher-pleads-guiltyto-fraud https://www.sfo.govt.nz/dunedinbusinessman-barry-klooghcharged-with-fraud-4
You may find further information of this nature on the SFO website at: https://www.sfo.govt.nz/news.
You are entitled to make a complaint about our decision to the Office of the Ombudsmen. They can be contacted at PO Box 10152, Wellington 6143 or at office@ombudsmen.parliament.nz.
Yours sincerely
Paul O’Neil General Counsel