15th March 2005

Waipareira Trust Investigation

In November last year I opened an investigation into alleged financial irregularities at the Waipareira Trust. This followed the referral to me by Mr Tamihere of the report by Paragon Risk which had questioned the authenticity of eight invoices paid by the Waipareira Trust in 1998/99 at a time when Mr Tamihere was the Chief Executive.

An investigation of this nature is often accompanied by speculation both in the media and elsewhere as to the rights and wrongs of the various events. My task is to make an objective assessment of all the information available to me to determine whether or not there is sufficient admissible evidence of criminal offending to support a prosecution.

I am charging two people with a number of offences arising out of my investigation. The charges relate to the false invoices and to irregularities in the handling of gaming monies.

Mr Tamihere will not be charged. The evidence in relation to his involvement in the matters that I investigated does not support the laying of charges. It would not be appropriate for me to make any further comment on the charges which are now properly matters to be addressed by the Court.

DJ Bradshaw Director

ENDS

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