by MATT NIPPERT
A Kiwi accused of masterminding a $58 million investment scheme labelled a scam by Australian authorities has come under official censure in New Zealand.
Nelson resident David John Hobbs has been named by Australian authorities as the mastermind behind an alleged Ponzi scheme that fleeced pensioners.
The Australian Securities and Investment Commission (ASIC) said there was still $9m missing and “some money went to New Zealand accounts”.
New Zealand Herald for more