The buyer of five forestry blocks used New Zealand-based family members to make the transactions.
The Overseas Investment Office has stung overseas forestry investors with $1.38 million in fines for using New Zealand-based relatives to invest on their behalf.
According to the regulator, five forestry blocks totalling 3600ha in Awakino, Ngāruawāhia, Awaroa, Paranui and Manganui were purchased by several companies for $12.8m.
The purchasing companies, Smith Road Farm, Paranui Forest and 488 Manganui Road Farm, are all directed by Hamilton-based Jihai Hu and China-based Menglu Song.
Smith Road Farm and Paranui Forest are ultimately owned by Songs Trustee Ltd, owned by Song; 488 Manganui Road Farm is owned by Hu.