A prosecution in relation to a Ponzi scheme masked as a foreign exchange brokerage.
We'll provide confirmation of investigations when appropriate - usually, this would not be until charges are laid and name suppression is not an issue. There will be some exceptions if the SFO’s involvement is already in the public arena, or if public cooperation is required.
A case reaches prosecution stage when charges are laid. There may be a number of hearings during this stage and name suppression may stay in place. The SFO will announce if guilty pleas are entered. If not, the case will go to trial.
Trial dates and locations will be announced when they are available. The SFO will not comment on anything that might compromise a matter that is proceeding through the court.
Paul Hibbs was sentenced to eight years in prison with a minimum non-parole period of four years on 23 March 2018.
An investigation into the affairs of Kelvin Clive Wood of Forex NZ Limited and Forex NZ 2000 Limited is ongoing.
Former trustee Margaret Dixon has pleaded guilty to defrauding the entity of nearly $1 million.
The former financial manager of a tax-payer funded social services provider has pleaded guilty to defrauding the entity of about $60,000.