Taxpayers could take a $100,000 loss when a Rolls-Royce
linked to convicted fraudster Michael Swann goes to auction.
A 1922 Rolls-Royce Silver Ghost was discovered following an
attempt to remove a container at Port Otago's Dunedin
container yard last year.
A police investigation linked the vehicle to Mr Swann, who in
2004 paid $160,000 to a Christchurch man for the vehicle,
which had never been warranted or registered in New Zealand.
This week, the vehicle was listed for sale with Turners
Auction on the North Shore.
The auction sale price estimate is between $60,000 and
In an affidavit dated March 28, 2010, Mr Swann stated, ''I
can definitely say that there is nothing by way of hidden or
He was released from prison just over a year ago, and remains
on parole until May 2018.
After the Rolls-Royce was discovered, he told detectives,
''What happened, it happened while I was inside, and it
wasn't anything to do with me.''
He remains subject to a $6 million pecuniary order, meaning
any property recovered up to that amount could be used to
satisfy the order made under the Proceeds of Crime Act.
Detective Senior Sergeant John Ferguson, of Dunedin, said
police were pleased to recover the vehicle, and delighted the
proceeds from its sale would be returned to the Government.
''Police were able to retrieve this vehicle, and others, as
the direct result of information we received from members of
the public, and we thank those members of the public who
passed on this information.''