News | Business
3 Jul 2025 15:39
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Business

    A company and two employees have been found guilty of failing to report 53 million dollars of suspicious transactions from an international business mogul

    A company and two employees have been found guilty of failing to report 53 million dollars of suspicious transactions from an international business mogul


    The case, in the High Court in Auckland, is the first of its kind since anti-money laundering laws were introduced a decade ago.

    Much of the money is alleged to have come from a pyramid scheme.

    The company and names of the employees are suppressed.

    They've been found guilty on charges relating to failing to conduct customer due diligence, failing to keep adequate records and not reporting suspicious transactions.

    Despite finding them guilty, the judge hasn't immediately convicted them.

    That's to give their lawyer time to seek instructions before sentencing in February.

    © 2025 Newstalk ZB, NZCity

     Other Business News
     03 Jul: Consumer spending's continuing to pick up
     03 Jul: Housing prices are up for the first time in three months, but turnaround hopes may be premature
     03 Jul: The rule of law is key to capitalism - eroding it is bad news for American business
     03 Jul: Confidence levels in Canterbury business have flat lined but experts remain cautiously optimistic
     03 Jul: A clear message from the Government -- New Zealand can't succeed, if Auckland doesn't succeed
     03 Jul: Bosses at some state-owned enterprises are continuing to be rewarded pay increases, while their companies' profitability tanks
     02 Jul: Prices for top-end butter are through the roof, with little recourse for shoppers
     Top Stories

    RUGBY RUGBY
    Tupou Vaa'i has been tasked with moving to the blindside flank in a new-look All Blacks pack for Saturday's first test of the year against France More...


    BUSINESS BUSINESS
    Consumer spending's continuing to pick up More...



     Today's News

    Entertainment:
    Henry Golding thinks playing James Bond would be a "nightmare" 15:36

    Rugby:
    Tupou Vaa'i has been tasked with moving to the blindside flank in a new-look All Blacks pack for Saturday's first test of the year against France 15:27

    Entertainment:
    Porsha Williams is taking a break from dating after finalising her divorce from Simon Guobadia 15:06

    Boxing:
    The Gypsy King could be on the move...back into the boxing ring 14:57

    Entertainment:
    Adult film star Kylie Paige has died aged 28 14:36

    National:
    Thumbs up: good or passive aggressive? How emojis became the most confusing kind of online language 14:17

    Health & Safety:
    Princess Catherine says cancer treatment 'like a roller-coaster' 14:17

    Accident and Emergency:
    Two people are dead, and 43 missing, after a car ferry carrying 65 passengers and crew sank overnight near Indonesia's Bali 14:07

    Entertainment:
    Tom Sandoval found it "really hard" to overcome his cheating scandal 14:06

    Rugby:
    Coach Scott Robertson is confident he's nailing a number of objectives in naming the first All Blacks side of the year 13:47


     News Search






    Power Search


    © 2025 New Zealand City Ltd