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Date Time Pyramid scheme leads to NZ’s largest ever forfeiture A money laundering investigation linked to a multi-national pyramid scheme has led to New Zealand’s largest ever forfeiture under the Criminal Proceeds (Recovery) Act 2009. The High Court has approved a settlement between Police and Xiaohua (known as Edward) Gong that enables the forfeiture of over $70 million. Police first restrained the property in March 2017 following an investigation into suspicious funds deposited in New Zealand bank accounts between 2009 and 2016. The funds were identified as being profits from the pyramid scheme based in China and Canada. Detective Inspector Craig Hamilton says Gong is based in Canada and the money was transferred to New Zealand to conceal its source.

New zealandEdward gongZealand policeNz police publicHigh courtCriminal proceedsInspector craig hamiltonInspector hamiltonEast tamakiNew zealand policeபுதியது ஜீலாந்துஎட்வர்ட் காங்ஜீலாந்து போலீஸ்ந்ஸ் போலீஸ் பொதுஉயர் நீதிமன்றம்இன்ஸ்பெக்டர் கிரேக் ஹாமில்டன்