SPCS

SOCIETY FOR PROMOTION OF COMMUNITY STANDARDS INC.

“Dangerous gaps in NZ’s company registration system exploited” says Oxfam – Stuff News

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Arms traders exploiting NZ laws – Oxfam. Stuff News Michael Field 19/10/10

Dangerous gaps in New Zealand’s company registration system are being exploited by arms brokers, aid organisation Oxfam says.

“Controls around company registration in New Zealand need to be tightened to prevent New Zealand businesses from unwittingly or deliberately facilitating illicit arms transfers,” the group says in a report today.

Oxfam’s “Brokers without Borders” examined the way a New Zealand company, SP Trading Ltd, smuggled arms out of North Korea late last year for an unknown destination.

Oxfam noted that nobody in New Zealand has been prosecuted for the arms trading despite it breaking United Nations sanctions and New Zealand law.

For more go to: http://www.stuff.co.nz/national/crime/4247254/Arms-traders-exploiting-NZ-laws-Oxfam

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Money laundering, shell companies, criminal connections and porn

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The charges recently laid by the Companies Office against Lu Zhang for her alleged offences against s. 373 of the Companies Office Act 1993 – signals a new era of reform: a war against the abuse of the Companies Office register by unscrupulous company directors. By providing false residential and/or registered office addresses they seek to avoid full accountability to enforcement agencies, evade authorities and hide financial matters. Full credit to reporter Michael Field of Fairfax Media who broke the story about multiple shell companies operating out of an Auckland Queen Street building and their alleged links to illegal arms trafficking involving North Korea.

Criminal activities linked to prostitution and human trafficking, the international porn trade, drug and weapons trafficking, have all been linked to money laundering of the proceeds of crime.

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Money laundering, shell companies, criminal connections and porn

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The Society has learnt from a source today that the National Police Headquarters is hosting a conference this week in Wellington that is looking at the issues of money laundering and criminal connections within New Zealand, as well as overseas criminal links. A Police media spokesperson contacted has confirmed that the conference is not open to the public and that one of the areas that may be looked at in depth is the relationship between money laundering and crime, and shell companies. [Read more…]

NZ shell companies in bribery inquiry – Co. director investigated by NEU

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The registrar of the New Zealand Companies Office’s National Enforcement Unit (NEU) is considering a number of charges against a company director after initially finding that an “incorrect residential address” had been provided on “the director consent form” signed by the director. The director is liable for a $5,000 fine if convicted of providing a false statement. [Read more…]

Companies Act 1993 and Enforcement Issues

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Potentially dangerous gaps in New Zealand’s company registration system have been revealed as an investigation continues by the Society into the operations of a number of NZ registered companies owned by a US-registered corporation, as well as the activities of its Principal and registered agent who directs the NZ companies. A NZ-based co-director of one of his other companies is also under investigation.

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