An overseas investor has been fined a hundred thousand dollars for misleading the Overseas Investment Office during an investigation into a property transaction
An overseas investor has been fined a hundred thousand dollars for misleading the Overseas Investment Office during an investigation into a property transaction
10 February 2020
It's the first time a person has been convicted of an offence under the Overseas Investment Act 2005.
Dr Won Joo Hur pleaded guilty on Friday in the Auckland District Court to one charge of obstructing an OIO investigation.
OIO group manager Vanessa Horne says Hur and his lawyer gave the OIO false information in May 2017.
The lawyer, Dr Jaeho Choi has pleaded guilty to the same charge and is due to be sentenced on April 28.
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