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3 Jul 2025 15:30
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  •   Home > News > Business

    An overseas family's been slapped with nearly 1.4-million dollars in fines and legal fees - for breaching the Overseas Investment Act

    An overseas family's been slapped with nearly 1.4-million dollars in fines and legal fees - for breaching the Overseas Investment Act


    The High Court in Auckland handed down the penalty, after the speculators bought five forestry blocks worth nearly 13-million dollars.

    The land - purchased in areas all around the North Island and top of the South Island - was acquired under several company names.

    The family used relatives based in New Zealand to invest on their behalf.

    The court decided to discount the penalty... because the offenders admitted to the breaches, and disposed of the properties.

    © 2025 Newstalk ZB, NZCity

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     Top Stories

    RUGBY RUGBY
    Tupou Vaa'i has been tasked with moving to the blindside flank in a new-look All Blacks pack for Saturday's first test of the year against France More...


    BUSINESS BUSINESS
    Consumer spending's continuing to pick up More...



     Today's News

    Rugby:
    Tupou Vaa'i has been tasked with moving to the blindside flank in a new-look All Blacks pack for Saturday's first test of the year against France 15:27

    Entertainment:
    Porsha Williams is taking a break from dating after finalising her divorce from Simon Guobadia 15:06

    Boxing:
    The Gypsy King could be on the move...back into the boxing ring 14:57

    Entertainment:
    Adult film star Kylie Paige has died aged 28 14:36

    National:
    Thumbs up: good or passive aggressive? How emojis became the most confusing kind of online language 14:17

    Health & Safety:
    Princess Catherine says cancer treatment 'like a roller-coaster' 14:17

    Accident and Emergency:
    Two people are dead, and 43 missing, after a car ferry carrying 65 passengers and crew sank overnight near Indonesia's Bali 14:07

    Entertainment:
    Tom Sandoval found it "really hard" to overcome his cheating scandal 14:06

    Rugby:
    Coach Scott Robertson is confident he's nailing a number of objectives in naming the first All Blacks side of the year 13:47

    Law and Order:
    Police are investigating serious injuries suffered by a three-month-old Hutt Valley baby 13:37


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