New Zealand Goes for $250 Million Fraud

It sounds like a dose of Olympic fever. With big fraud arrests in Japan, Singapore and China, perhaps it was the competitive spirit that got New Zealand’s top fraud cop boasting about upcoming scores. Adam Feeley said there is a new $250 million fraud case about to break.

Feeley is leaving his post as chief executive of the country’s Serious Fraud Office, which he also announced Tuesday while leaving the public titillated about coming attractions. “The revelation is likely to spark furious speculation as to the target of the investigation,” analyzed One News of TVNZ. They reported this case “would rank among the country’s largest and substantially exceed the $103M case against infamous Datasouth manager Gavin Bennett.”

In the scope of fraud arrests around the globe, a $250 million dollar bust will likely not get you on the medal stand. Just this week, an Iranian court convicted 39 people of a complex fraud case. It included the forging of documents to realize $2.6 billion gain. The Iranians play hardball — four bankers were sentenced to death.

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