The Serious Fraud Office says it has launched an investigation into failed finance company Capital+Merchant Finance, after a referral from its receiver, Grant Thornton.
SFO Chief Executive, Adam Feeley, said that the investigation was focused on specific transactions which, on current information, "appeared to have benefitted certain related parties through the use of Capital+Merchant funds in contrived structures and with questionable supporting documentation."
Feeley said the investigation was in its early stages.
"The immediate focus of our work is to gather, analyse and evaluate all the relevant documentation around these transactions, and form a view as quickly as reasonably possible as to the merits of these matters."
"We have received excellent cooperation from Grant Thornton, and from other parties including the second receivers Korda Mentha. We will liaise further with them, and continue to collaborate with other regulatory agencies as appropriate."
- NZ HERALD