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19 Jan 2026 3:11
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      Home > News > National

    An Auckland company owned by property investment guru Ron Hoy Fong has been ordered to pay 400 thousand dollars

    An Auckland company owned by property investment guru Ron Hoy Fong has been ordered to pay 400 thousand dollars


    Ronovation Limited gave people guidance on the residential real estate market - but has admitted to price fixing in the High Court at Auckland.

    In 2011, Hoy Fong developed rules to keep his clients from competing against each other.

    Justice Sarah Katz says Ronovation's rules were deliberately anti-competitive and designed to suppress competition to the detriment of vendors.

    © 2026 Newstalk ZB, NZCity

     Other National News
     18 Jan: Emergency Management Minister Mark Mitchell says Northland has been hit hard by flooding
     18 Jan: Civil Defence and marae have sprung into action, after flooding in Northland's North east region
     18 Jan: Civil Defence has stood up centres at Marae in Bland Bay, Puna-ruku, Oteto and Mokau in Northland after heavy rain and flooding
     18 Jan: Police are investigating a suspicious house fire in Auckland's Wesley, which sent its sole occupant to hospital
     18 Jan: Auckland University is taking aim at New Zealand's biggest cancer killer - by opening the country's first lung cancer organoid bank
     18 Jan: Torrential downpours in parts of Northland overnight have seen residents wake up to floodwaters
     18 Jan: Auckland University scientists have received one million dollars to advance skin cancer treatments
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