OIO probe into Motukawaiti Island sale fails to uncover enough evidence to prosecute

Mon, 01 Feb 2016

By Paul McBeth Feb. 2 (BusinessDesk) - A five-year investigation into the sale of Motukawaiti Island near Northland's Matauri Bay failed to turn up enough evidence for the Overseas Investment Office to launch a prosecution. The Land Information NZ unit closed its probe into New Zealand company St Morris NZ's acquisition of the island using funds from Chinese businessman Zhang Jun on Oct. 30 last year without enough evidence to support criminal prosecution for breaching the Overseas Investment Act, the OIO said in a statement. While the...

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