Fraud squad inquiry
r.t’.Z Press .Assn — Copyright) AUCKLAND. Complaints relating to the sale of five New Zealand race horses overseas for 515.000 and investment in a local company are under investigation by the Auckland C.I B.’s fraud squad. The aid of Australian detectives has been enlisted in inquiries. A man who formerly .ran a bloodstock agency, a modelling agency, and three in the city is being sought in Australia. He is Mr Raymond Robert Morgan, an Australian, who left Auckland late last
month. Another complaint is from a race horse owner who says that he sold one of his stock'] to a Tasmanian buyer i ! through a bloodstock agency.'l The fraud squad is also in- ' quiring into the take-over by | Mr Morgan of a cosmetics ' company, Pharmaceutical Products (1975). Ltd, which 1 had offices in Newmarket. I ! An investor who says that ! he oaid Mr Morgan $6OOO for • a share of this business has 1 filed a complaint with the police. 1 Creditors around Auckland < are said to have claims J amounting to $25,000 in con- 1 nection with these business].' ventures. ii
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Bibliographic details
Press, Volume CXV, Issue 33933, 28 August 1975, Page 7
Word Count
183Fraud squad inquiry Press, Volume CXV, Issue 33933, 28 August 1975, Page 7
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