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29 Mar 2024 12:22
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  •   Home > News > Politics

    An overseas family's been slapped with nearly 1.4-million dollars in fines and legal fees - for breaching the Overseas Investment Act

    An overseas family's been slapped with nearly 1.4-million dollars in fines and legal fees - for breaching the Overseas Investment Act


    The High Court in Auckland handed down the penalty, after the speculators bought five forestry blocks worth nearly 13-million dollars.

    The land - purchased in areas all around the North Island and top of the South Island - was acquired under several company names.

    The family used relatives based in New Zealand to invest on their behalf.

    The court decided to discount the penalty... because the offenders admitted to the breaches, and disposed of the properties.

    © 2024 Newstalk ZB, NZCity

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    Law and Order:
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    Entertainment:
    Rebel Wilson has dec lared she won't be "bullied or threatened" by Sacha Baron Cohen 11:23

    Accident and Emergency:
    An eight-year-old child is the sole survivor of a bus crash in South Africa that's killed 45 people 11:07

    Entertainment:
    Whoopi Goldberg stormed off the stage of 'The View' to tell off an audience member for filming it on his phone 10:53

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    Law and Order:
    The tangi of one of the men who died after a mass brawl at a 21st birthday party in Gisborne last weekend will be held today 10:27

    Entertainment:
    Machine Gun Kelly is said to be in "good spirits" despite Megan Fox admitting they once called off their engagement 10:23


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