$8.3mn Ponzi may have hundreds of victims: SFO

Edwin Mitson
Thu, 20 Oct 2016

By Edwin Mitson Oct. 20 (BusinessDesk) - A man has appeared in Christchurch District Court accused of obtaining $8.3 million in a Ponzi scheme that prosecutors say may have caught out hundreds of people. The Serious Fraud Office says Jimmie McNicholl has been charged with one count of obtaining by deception. A second person has been charged, but has yet to appear in court.  It says that Arena Capital Limited, trading as BlackfortFX, obtained registration as a financial services provider by deception. Between May 2014 and May 2015, it i...
MARKET CLOSE: NZ shares rise as optimism over covid drug buoys Asia
Dan Brunskill | Mon, 13 Jul 2020

New Zealand shares joined a rally across Asia, as upbeat investor sentiment spilled over from Wall Street's close on Friday on optimism over a late-stage trial for a hopeful covid-19 treatment.  Th...

Law & Regulation
SFO probes Labour Party on donations
Victoria Young | Mon, 13 Jul 2020

The Serious Fraud Office has confirmed a fifth investigation into electoral funding, stating today it is looking into donations to the Labour Party.The agency said the probe relates to donations made...

NZ dollar little changed as global shares defy worsening covid news
Jenny Ruth | Mon, 13 Jul 2020

The New Zealand dollar was little changed as traders awaited further trend-setting information and as rising share markets were offset by Florida reporting a US record for new covid infections. The...

The role of private equity in the wake of COVID-19

As local covid-19 restrictions ease, a new business cycle is beginning in New Zealand.