31 Jul 2012

SFO investigates suspected fraud worth up to $250 million

6:54 pm on 31 July 2012

The departing head of the Serious Fraud Office says investigators are working on a case of suspected fraud worth up to $250 million.

Adam Feeley, who has resigned as the chief executive to run Queenstown Lakes District Council, says the case is in its early stages.

He says although the office has tackled the biggest financial fraud cases in New Zealand's history, financial crime is emerging in other areas.

"We've got a case at the moment, it's in the early stages it is nothing to do with the finance industry and on the face of it there are some serious concerns here and people shouldn't think that's unusual".