The Financial Markets Authority is having trouble getting in touch with the director of a group of forestry investment companies which owe investors $18 million.
Investors in the Motueka-based Forestlands group of investment companies have been waiting for the return of their money since Forestlands sold its Hawke’s Bay and Wairarapa forests for an undisclosed price to a foreign buyer in September.
Some complained to the Financial Markets Authority (FMA), but Forestlands said $18m would be paid to investors.
This money was put into a trust by Forestlands in March after discussions with the FMA, and some matters were referred to the Serious Fraud Office last month.
from Ellie NZ Rss http://www.stuff.co.nz/business/94162968/Financial-Markets-Authority-lost-in-the-woods-on-18m-Forestlands-distribution
from
https://ellieplume83.wordpress.com/2017/06/28/financial-markets-authority-lost-in-the-woods-on-18m-forestlands-distribution/
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