SFO launches probe into North Shore property development

Mon, 14 Oct 2013

Oct. 14 (BusinessDesk) - The Serious Fraud Office has launched an investigation into a North Shore property development which has left foreign investors out of pocket after the companies went broke and the land sold to new developers. The companies include developer Chris Cook’s Albany Heights Villas Ltd and Hunter Gills Road Ltd, which are both in liquidation. The SFO is looking into allegations that investor funds weren’t held in trust, and that the developers made misleading statements. Acting chief executive Simon McArley said a number...

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