Serious Fraud Office charges two Christchurch people for alleged $4.1 million Ponzi scheme

Ngākau Aroha Investments Ltd and Power to Me Aotearoa Tapui Ltd co-owner Alex Tuira.

Two people have been charged in relation to a Serious Fraud Office investigation alleging they were involved in a $4.1 million Ponzi scheme involving more than 60 investors.

The Serious Fraud Office (SFO) announced on Tuesday that Thomas Alexander Kokouri Tuira (also known as Alex Tuira) and Aroha Awhinanui Tuira each face 115 charges of obtaining by deception.

They have pleaded not guilty to all charges and have been remanded on bail. Their next appearance is scheduled for July 20, at Christchurch District Court.

The SFO said the couple claimed to be experienced investors who managed funds as well as offering financial advice and financial literacy training through their companies Ngākau Aroha Investments Limited and Power To Me Aotearoa Tapui Ltd.

“The SFO alleges that between 2014 and 2021 the defendants exploited their clients’ trust to obtain funds which were not invested legitimately, but instead used to pay other investors in a Ponzi-type scheme or used for personal and business expenses.”

The SFO announced in November 2021 it had executed search warrants as part of its investigation.

The agency was seeking information from the public that may be relevant to the investigation.

Archived websites for Power to Me describe the operation as founded and run by Alex Tuira that provided “successful strategies for personal empowerment and financial literacy” including in Christchurch school Te Pā Ō Rākaihautū.

Tuira, described as a “business and personal finance strategies”, listed a range of self-help programmes as his primary qualifications, including courses by Tony Robbins, Robert Kiyosaki and Jordan Belfort, aka the Wolf of Wall Street.

Companies Office records showed there were 34 shareholders in Power to Me Aotearoa Tapui, including a 5.31 per cent holding by former Ngāi Tahu chief operating officer Julian Wilcox and several parcels held by members of former Ngāi Tahu chair Sir Mark Solomon’s family.