SFO, FMA launch probe into Christchurch man

The Financial Markets Authority and the Serious Fraud Office are probing the financial advisor activities of Paul Clifford Hibbs. Photo / Hawkes Bay Today
The Financial Markets Authority and the Serious Fraud Office are probing the financial advisor activities of Paul Clifford Hibbs. Photo / Hawkes Bay Today

A man described in 2010 as an investment manager whose company catered to the wealthy is being investigated by the Serious Fraud Office and Financial Markets Authority.

A short statement from the FMA yesterday evening said it and the SFO were probing Paul Clifford Hibbs and Hansa, a firm he directs and owns.

The FMA provided no more detail but encouraged anyone who had been in touch with Hibbs relating to an offer of financial advice, investment services or any other financial product or service to contact the market watchdog.

The Companies Office lists Hibbs at a Christchurch address.

A 2010 High Court decision, which mentions Hibbs but and did not involve him directly, described him as an "investment manager".

"He is the director of a private investment company through which a number of wealthy investors participate in business ventures," the decision said.

Hibbs could not be contacted before publication.

- NZ Herald

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