17 Feb 2015

Financial troubles affect Auckland events

2:44 pm on 17 February 2015

The Auckland business association Heart of the City has pulled funding from several events due to financial troubles around its former chief executive Alex Swney.

Terry Gould, chair of Heart of the City.

Heart of the City chair Terry Gould Photo: RNZ / Todd Niall

Swney pleaded guilty last month to evading more than $1.8 million dollars in tax and is due to be sentenced in April.

Heart of the City announced in December it was launching civil proceedings against Swney.

It now said it was suspending event sponsorships to seven organisations this year, because of that civil action and the costs it had to bear.

It has declined to name the organisations that were missing out, saying further information about its finances were subject to the Serious Fraud Office and civil action proceedings.

Heart of the City said it would look at sponsorship funding again next year.

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