A company owned by a property investment coach who oversaw a complicated bid-rigging syndicate designed to limit competition and secure cheap homes is set to pay a $400,000 fine for illegal price fixing.

Ron Hoy Fong is a Justice of the Peace and Queen's Service Medal holder who boasts of owning more than 30 investment properties and describes himself as a "super investor".

But his company Ronovation Ltd has agreed to pay a $400,000 financial settlement after admitting it breached the Commerce Act through cartel activity.

The Commerce Commission launched an investigation into Fong's company after the Weekend Herald