The Serious Fraud Office (SFO) today confirmed reports that it is investigating DataSouth Finance Limited (DFL).
SFO investigates DataSouth Finance Limited
The Serious Fraud Office (SFO) today confirmed reports that it is investigating DataSouth Finance Limited (DFL), part of the DataSouth Group that provides IT business continuity services to the Christchurch area.
SFO Director, Adam Feeley, said that SFO received information that raised concerns as to the veracity of lease agreements purportedly entered into between DFL and clients. The lease agreements had been financed by South Canterbury Finance.
“The investigation is in its preliminary stages, and we will be working with the receivers and other parties to determine the existence and extent of any fraud.”
For further information
Adam Feeley
Director
Serious Fraud Office
Phone: 021 333 539
Note to editors
Role of the SFO
The Serious Fraud Office (SFO) was established in 1990 under the Serious Fraud Act in response to the collapse of financial markets in New Zealand at that time.
The SFO operates three investigative teams:
- Fraud Detection & Intelligence;
- Financial Markets & Corporate Fraud; and
- Fraud & Corruption.
The SFO operates under two sets of investigative powers.
Part 1 of the SFO Act provides that it may act where the Director “has reason to suspect that an investigation into the affairs of any person may disclose serious or complex fraud.”
Part 2 of the SFO Act provides the SFO with more extensive powers where: “…the Director has reasonable grounds to believe that an offence involving serious or complex fraud may have been committed…”
The SFO’s Statement of Intent 2010-2012 sets out the SFO’s three year strategic goals and performance standards. It is available online at: www.sfo.govt.nz(external link)