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A Christchurch couple, Alex and Aroha Tuira, were jailed for running a $3.9 million Ponzi scheme that defrauded over 55 mainly Māori investors from 2014 to 2021.
A Christchurch couple, Alex and Aroha Tuira, were sentenced to prison for a $3.9 million Ponzi scheme that defrauded over 55 investors, mainly from Māori communities, between 2014 and 2021.
They falsely claimed to be experienced investors, using funds from new investors to pay earlier ones and spending money on personal expenses, including travel.
The Serious Fraud Office uncovered the scheme after search warrants in 2021, leading to guilty pleas that spared victims a trial.
Alex Tuira received a six-year, four-month sentence, and Aroha Tuira was sentenced to five years, two months.
Victims reported severe financial and emotional harm, with some losing homes.
The case underscores the dangers of deceptive investment schemes targeting vulnerable communities.
Una pareja de Christchurch, Alex y Aroha Tuira, fueron encarcelados por ejecutar un esquema Ponzi de $ 3.9 millones que defraudó a más de 55 inversores mayoritariamente maoríes desde 2014 hasta 2021.