Aust, detectives probe N.Z. link with huge fraud

Press, 21 November 1979, Page 6

Aust, detectives probe N.Z. link with huge fraud

PA Auckland | Two Australian detectives are in Auckland to investigate alleged New Zealand connections in a multi-million dollar currency fraud which has links with the drugunderwork!. Detective Inspector A J Sing and Detectite Sergeant B. L. Hagner, of the I Australian Commonwealth j Police, are in New Zealand | to get information rather ■than make arrests, and after I only one day of inquiries ) their investigation has been I helped a great deal, accord-; ■ ing to a police spokesman; i They are investigating the' I manipulation or laundering; ;of SA2S million, gained from) I illegal sources. (Laundering | is a way of cleansing the proceeds of crime by channelling it through legitimate business enterprises). I “A number of lawyers and accountants” are being in-’

vestigated. according to the spokesman. - He said that a link with the drug world existed, but it was not necessarily con netted with the international investigation of the drug empire allegedly led by the late "Mr Asia.” Christopher Martin Johnstone. The spokesman said that the Australian detectives were in Auckland to check the alleged participation of some New Zealand corporations in the currency fraud. Their inquiries had also focused on corporations in Norfolk Island, and "corporations in various tax havens overseas.” Messrs Sing and Hagner have devoted a year to the inquiry, but are not yet able to complete it. Their inquiries will take them to Rotorua today. They expect to leave New Zealand tomorrow. They have been assisted by members of the robbery squad.