The Serious Fraud Office has laid charges against Auckland
property investor Glenn William Cooper in what it says is the
office's second investigation into Cooper's activities.
Cooper, 39, faces six charges of dishonestly using a document
relating to six property transactions.
"The quantum of the offending is approximately $834,700," the
SFO said in a statement.
The SFO alleges Cooper bought properties at mortgagee sale,
using one of the companies he was involved in or via
associates, then on-sold them at an increased price.
Investigators believed he usually targeted investors who were
under pressure to consolidate debt and all the transactions
involved members of one family.
The SFO alleged that false sale and purchase agreements that
concealed Cooper's interest in the properties from the banks
and investors, and misleading loan application forms were
prepared by Cooper and submitted to banks.
Acting SFO chief executive Simon McArley said that "While the
quantum is relatively low, the conduct has had a serious
effect on the community.
"The SFO believe there is strong public interest in focussing
its resources on vulnerable investors," the statement said.
Cancer-stricken rugby player Kurtis Haiu was last year
discharged without conviction for punching Cooper in the face
after allegedly losing $400,000 to $500,000 through
investments in unsuccessful property deals.
- Herald Online