Police seize firms records

Press, 2 November 1982, Page 26

Police seize firms records

PA Auckland Auckland police have seized records from the office of Southern Cross Commodities as an investigation began into the futures broking firm in Australia. Fraud squad detectives took records relating to investments made by New Zealanders through the company, which is incorporated in Adelaide.

On Friday, police in Australia seized at least two truckloads of documents on 21 premises throughout the country. All the companies raided were associated with Southern Cross Commodities Pty, Ltd. Detective Sergeant D. C. Lucas, of the Auckland fraud squad, said New Zealanders who had invested in futures markets overseas had complained to the police in Auckland.

“Acting on their complaints, and in conjunction

with Australian police, records in Auckland have been seized.” He said that New Zealand records would have to be checked with Australian records before any decision was made on criminal charges. Auckland police, he said, were “quite happy” with the staff at the Auckland office of the futures broking firm. “They have co-operated. They are very much in the dark about it (the investigation).” Detective Sergeant Lucas said that all transactions went from New Zealand to Adelaide and were actioned on commodity markets in the United States. The South Australian At-torney-General, Mr Trevor Griffin, said that no charges have been laid yet in Australia, and that it was much too early to place any value on the matters being investigated.