The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has filed 61 charges against six individuals under the Crimes Act 1961, the Secret Commissions Act 1910 and the Financial Markets Authority Act 2011.
The charges relate to an alleged mortgage fraud and were filed at the Manukau District Court.
FMA Executive Director Response and Enforcement, Louise Unger says, "This type of alleged mortgage fraud undermines trust and confidence in New Zealand's lending system and financial institutions. Mortgage fraud is one of our key regulatory priorities. The FMA is taking this action to both hold those responsible to account and to deter others from engaging in similar conduct."
As the matter is currently before the courts and there are some suppression orders in place the FMA cannot comment further at this stage.
