SFO investigates Rockforte Finance

The Serious Fraud Office (SFO) has started an investigation into the affairs of Gisborne company Rockforte Finance.

Rockforte was placed into receivership in May owing 77 investors $3.25 million.

SFO chief executive Adam Feeley said the investigation had regional significance.

"Although not large in dollar terms, this is a case that has had a large impact on a local community. Therefore the investigation fits well with the SFO's objective of restoring public confidence and improving financial security of New Zealand investors, within that community," Mr Feeley said today.

The Securities Commission and the national enforcement unit of the Ministry of Economic Development were also looking at matters relating to the company.

Most investors in Rockforte were covered by the Crown retail deposit guarantee scheme.

The SFO said Rockforte was the 17th finance company it had investigated since 2007. Of those, nine investigations are ongoing and, to date, five had resulted in criminal charges.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares
General Finance - Olympic Term Deposit Promotion featuring a Special Bonus of 0.1%
July 22nd Morning Report
VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report