According to BusinessDesk, the SFO said in its 2015 annual report released this week that, "Auckland's property market and the scale of impending commercial developments represent a key environmental risk. We have invested significant resources into investigating a large-scale mortgage fraud involving highly organised teams of property developers, shell company directors, property valuers and lawyers."
The SFO, which focuses on reducing the impact of serious financial crime on the economy and the public, told NZ Adviser that as the investigation is ongoing they were unable to provide further comment.
