It's been revealed formal complaints against a giant ponzi scheme went unheard for years

It was thought the scheme went unnoticed for nearly a decade until the sudden death earlier this year of Auckland businessman Masatomo Ashikaga.

Hundreds of investors in the businessman's East Wind company claim to be owed 45 million dollars.

However a formal complaint of fraud was sent in August 2014 by immigration lawyer and former cabinet minister Tuariki Delamere.

It bounced from the Serious Fraud Office to Immigration NZ, where it was dropped due to "operational priorities".

Delamere says he's disappointed the company was allowed to operate for five years following his complaint.