SFO charges property investor

Last updated 12:02 08/11/2012

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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.

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- BusinessDay.co.nz

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