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Join the Securities Litigation and Enforcement Group on LinkedInSFO warns it’s struggling to cope with workload – NZ Herald
The Serious Fraud Office has warned it won’t be able to run as many white-collar criminal investigations and prosecutions over the next two years and is already struggling to cope with very large cases. The fraud investigation agency made the remarks in answers to followup questions from Parliament’s justice select committee following its annual review […]
NZ: Future of SFO up in air as stats decline – NZ Herald
According to annual reports filed by the SFO over the past decade, in the five years prior to Read’s appointment the office launched an average of 15 new prosecutions every year. In the five years since this has dropped 40 per cent to an average of nine. via Future of SFO up in air as […]
Retrial ordered for alleged insider trader Hamish Sansom after hung jury – NZ Herald
A retrial has been ordered after New Zealand’s first insider trading trial ended in a hung jury. Last month, a deadlock was reached in the High Court at Auckland as a jury was unable to reach a unanimous or majority verdict for Hamish Marc Sansom after two days of deliberations. via Retrial ordered for alleged […]
NZ’s first insider trading trial begins in Auckland | Radio New Zealand News
The first person to go on trial in New Zealand for insider trading sold his shares in a company after getting a tip-off from an employee, the High Court has heard. via NZ’s first insider trading trial begins in Auckland | Radio New Zealand News.
Hard to keep staff on what it pays – Serious Fraud Office | Stuff.co.nz
In its four year plan document submitted to Parliament’s Law and Order subcommittee, the SFO warns of a high likelihood its staff will be poached by other employers offering more money. “Despite high levels of engagement SFO employees are attractive to the private sector who pay significantly higher salaries and this generates a higher than […]
New Zealand: SFO alleges $1.7b fraud at South Canterbury Finance
Serious Fraud Office announces biggest alleged white-collar fraud in New Zealand history.
Adam Feeley to Lead NZ’s Serious Fraud Office
New chief executive expected to take over in November.
New Zealand: Shareholder Association Chairman Loses it With “Dumb Wit” and “Idiot” Hanover Finance Investors
Apparently diplomacy is not a key part of the job description for Chairman of the New Zealand Shareholders Association. Upset that investors in NZ’s Hanover Finance approved a company moratorium that will return just 55 per cent of the net present value of their investment (by giving up on $200 million in interest payments and […]
New Zealand: Three Directors of National Finance 2000 Face Criminal Charges For Alleged Misstatements
Three directors of New Zealand’s National Finance 2000, which collapsed in May 2006, will face criminal charges carrying potential penalties of up to five years in prison. The New Zealand Herald reports that the directors — Trevor Allan Ludlow, Anthony David Banbrook and Carol Anne Braithwaite — would face charges in the Auckland District Court […]
New Zealand: Shell Wins Nine Year Old “Insider Trading” Case But Must Pay 10-Digit Litigation Fees
A 1999 lawsuit against New Zealand’s Southern Petroleum that was later inherited by Shell as part of a takeover has finally been resolved in Shell’s favor. The claim, filed by a group of investors that alleged that their shares in gas and oil subsidiary Southern Petroleum were undervalued during a 1995 takeover by Fletcher Challenge Energy, was dismissed […]