SFO charges property investor

REBECCA STEVENSON
Last updated 12:02 08/11/2012

Related Links

Misery of heartbreak motel Cooper deals were 'odious' Dorchester sales documents a 'sham' Half-million dollar bill for firm in SFO probe

Relevant offers

Money

Real estate: Are you better off to buy or rent? Price claims fool Australian shoppers Auckland affordable housing target beaten Pensioner lost $1m in lawyer's scam Men feeling pinch go without power Rise in housing costs outpaces income Mortgages still elude first-home buyers Shock in store for term deposit savers 'Liar' lawyer jailed for $2m Ponzi scheme Ditch tradition and enjoy a stress-free Christmas

The Serious Fraud Office has laid six charges of dishonestly using a document against Auckland property investor Glen Cooper.

Cooper allegedly falsified sale and purchase agreements to conceal his interest in properties purchased through mortgagee sales which were then onsold at an inflated price. The Aucklander also allegedly prepared misleading loan application forms that were submitted to banks.

The SFO investigation looked at six property transactions worth approximately $834,700 between November 2010 through to September 2011.

Acting chief executive for the SFO Simon McArley said that while the amount of money is relatively low the conduct has had a serious effect on the community.

"The SFO believe there is strong public interest in focusing its resources on vulnerable investors."

The SFO said all of the transactions that are the subject of the charges involve members of one family.

Last August it was reported that cancer-stricken Blues rugby player Kurtis Haiu was a high profile investor in Cooper's property schemes. He lost a minimum of $400,000 to $500,000 with Cooper after buying residential investment properties from him in Taupo and Tokoroa for prices which exceeded those paid by Cooper - sometimes only days prior, Haiu's lawyer Richard Earwaker said.

Haiu plead guilty to assaulting Cooper last year and was discharged without conviction.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content