The Serious Fraud Office (SFO) has opened an investigation into a Porirua investment firm that collapsed last year.
Photo: RNZ / Dan Cook
The SFO wants to hear from anyone who had any dealings with Options Trading and Investments NZ or with its founder Tiavare Richard Curtis Joseph, who also goes by Ritchie Wineera.
The company, which claimed to provide investment services to its customers, failed last year.
The initial report from Waterstone Insolvency liquidator Damien Grant said investors were "induced" to place money into the company to have their funds managed.
"Our initial investigations indicate that this may not have happened.
"To date, we have not been able to find any assets, cash, or funds under management by the company.
"Because of this it is anticipated that the losses by investors will be substantial," he said.
In a subsequent report released in July, Grant said he had filed High Court proceedings against the company's director who he said had failed to attend an interview under oath and provide necessary information about the company.
"Furthermore, we have lodged a complaint with the Serious Fraud Office in relation to actions undertaken by the director of the Company," he said.
The SFO encouraged any with information regarding the company or Joseph/Wineera to contact it at optionstrading@sfo.govt.nz.
