Two men have been discharged on Serious Fraud Office (SFO) allegations of dishonesty over a multi-million dollar property deal, in a case that has spent years working its way through the court system.
Christchurch District Court Judge Michael Crosbie announced his decision today. Depositions were heard in the case more than two years ago.
The men were granted continued suppression of their names and occupations, which also means that neither the companies involved nor the 28ha block of South Island farmland which was the subject of the property deal can be named.
The suppression may have to be argued when he later releases his full decision with reasons.
Both men were charged with dishonestly using a document and money laundering, and one of them was also charged with attempting to obstruct the course of justice.
Jonathan Eaton and James Rapley appeared as defence counsel for the legal argument that led to the discharge today, about the time a two-week trial had been scheduled to begin.
The SFO alleged that the property deal went ahead for $5.5 million, but the two men told the buyers that the purchase price was $6.1 million plus GST.
Out of the additional $600,000, a legitimate commission payment of $150,000 was made to a real estate agent.
The SFO alleged that the remaining $450,000 was a secret commission. The two people it claimed were victims were Chinese nationals who spoke little English.
One was the head of a property development company in the People's Republic of China, who had applied for residency and settled in New Zealand in 2003. The other was his friend, from China.
