New Zealand Ponzi-scheme fraud leads to second guilty plea

( August 11, 2025, 03:38 GMT | Official Statement) -- MLex Summary: A second person has pleaded guilty to fraud charges in New Zealand in connection with a Ponzi scheme involving almost NZ$3.9 million ($2.32 million) and over 55 investors. In a statement, the New Zealand Serious Fraud Office said Aroha Awhinanui Tuira had entered guilty pleas to two representative charges of obtaining by deception. The plea, entered at the High Court in Christchurch, follows that of her husband earlier this month. Between May 2014 and May 2021, the couple secured funds through 104 transactions, falsely presenting themselves as experienced and well-connected investors, despite not investing the funds or operating an investment business at all, the anti-fraud agency said.The full statement by the New Zealand Serious Fraud Office follows: ...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.

Know what others in the room don’t, with features including:

Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

New Zealand Ponzi-scheme fraud leads to second guilty plea

Prepare for tomorrow’s regulatory change, today

Related Sections