Two People Face Serious Fraud Charges Over Alleged $4.1 Million Ponzi Scheme

A Christchurch couple is facing Serious Fraud Office charges for allegedly running a $4.1 million Ponzi scheme using funds obtained from more than 60 investors, the SFO has announced today.

Thomas Alexander Kokouri Tuira (also known as Alex Tuira) and Aroha Awhinanui Tuira each face 115 charges of obtaining by deception.

They have pleaded not guilty to all charges and have been remanded on bail. Their next appearance is scheduled for 20 July 2023 at Christchurch District Court.

Mr and Mrs Tuira claimed to be experienced investors who managed funds as well as offering financial advice and financial literacy training through their companies Ngākau Aroha Investments Limited and Power To Me Aotearoa Tapui Ltd.

The SFO alleges that between 2014 and 2021 the defendants exploited their clients’ trust to obtain funds which were not invested legitimately, but instead used to pay other investors in a Ponzi-type scheme or used for personal and business expenses.

ENDS

Media contact:

Faith Thumath

Serious Fraud Office

027 705 4550

About the Serious Fraud Office

The Serious Fraud Office (SFO) was established in 1990 under the Serious Fraud Office Act.

The SFO is the lead law enforcement agency for investigating and prosecuting serious or complex financial crime, including bribery and corruption.

The presence of an agency dedicated to white collar crime is integral to New Zealand’s reputation for transparency, integrity, and low levels of corruption.

The SFO also leads fraud prevention efforts in the public sector and is working to strengthen the sector’s resilience to fraud and corruption through its Counter Fraud Centre - Tauārai Hara Tāware (CFC).

The SFO focuses on a relatively small number of cases that have a disproportionately high impact on the economic and financial wellbeing of New Zealanders.

The SFO operates under two sets of investigative powers.

Part 1 of the SFO Act provides that it may act where the Director “has reason to suspect that an investigation into the affairs of any person may disclose serious or complex fraud.”

Part 2 of the SFO Act provides the SFO with more extensive powers where: “…the Director has reasonable grounds to believe that an offence involving serious or complex fraud may have been committed…”

In considering whether a matter involves serious or complex fraud, the Director may, among other things, have regard to:

the suspected nature and consequences of the fraud and/or;

the suspected scale of the fraud and/or;

the legal, factual and evidential complexity of the matter and/or;

any relevant public interest considerations.

The SFO’s Annual Report sets out its achievements for the past year, while its Statement of Strategic Intent sets out the SFO’s strategic goals and performance standards. Both are available online at www.sfo.govt.nz

The SFO Twitter feed is @SFO_NZ.

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