Criminals are using shell companies set up under New Zealand’s lax company laws to launder money.
Companies created by an Auckland firm operating out of Queen St have been linked to Russian crime, a Mexican drug cartel and Romanian extortion.
A 16-month Fairfax Media investigation has also tied companies created by Geoffrey Taylor and his sons Ian and Michael, who work out of 363 Queen St, to a company that smuggled arms out of North Korea.
The government admits there is a problem but says it has had other priorities.
Sunday Star Times. 29 May 2011.
For full article “NZ firms linked to money launderng” by Michael Field, see:
http://www.stuff.co.nz/national/5069771/NZ-firms-linked-to-money-laundering