An alleged money laundering probe into a wealthy businessman has been triggered …. following the collapse of companies connected to an Albany based project – the collapse involving $9 million in deposits owed to investors.
The money-laundering case against the businessman is linked to an alleged $129 million fraud. No criminal charges have been laid yet against the man, according to his lawyer, who said his client denies any wrongdoing.
Detectives raided the businessman’s luxury [Auckland Central] penthouse in August and seized at least $40 million of assets using the Criminal Proceeds Recovery law, which essentially forces someone to prove how an asset was paid for.
Full story: http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11341308