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
website
at:
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.