Forestlands founder Kearns reaped fees, returns from 18 related investment vehicles

Thu, 23 Mar 2017

By Jonathan Underhill March 23 (BusinessDesk) - The Motueka-based founder of the Forestlands investment companies set up a group that generated fees and other returns for his family trust and other entities including a share of subscribed capital raised and guaranteed returns from sales of timber and land, Companies Office documents show. The Financial Markets Authority is looking into Forestlands after preventing the distribution to investors of more than $18 million generated from asset sales. Those funds have instead been parked in a t...

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