Overseas investor convicted of misleading Overseas Investment Office

4:31 pm on 10 February 2020

An overseas investor has become the first person to be convicted of misleading the Overseas Investment Office in a bid to buy property.

Outside the Auckland District Court on Albert Street.

Auckland District Court Photo: RNZ / Claire Eastham-Farrelly

Won Joo Hur was fined $100,000 after pleading guilty to one charge of obstructing an investigation by the office in the Auckland District Court.

The office's group manager, Vanessa Horne, said Hur bought a property in Helensville through a company associated with his lawyer.

She said the pair told the office the property was transferred at arm's length and provided a false loan agreement.

Hur's lawyer, Jaeho Choi, has pleaded guilty to the same charge and is due to be sentenced in the Auckland District Court in April.

Civil proceedings against the company that bought the property are pending before the High Court.