Third ar­rest in Cra­far saga

South Waikato News - - RURAL DELIVERY -

Athird per­son has been ar­rested in re­la­tion to Chi­nese com­pany Nat­u­ral Dairy (NZ) Hold­ings’ failed bid to buy the Cra­far farms in 2010. New Zealand res­i­dent Eric Yee, a Sin­ga­pore na­tional also known as Yee Wen­jye, has been charged in Hong Kong by the In­de­pen­dent Com­mis­sion Against Cor­rup­tion with one count of con­spir­acy to de­fraud.

He is ac­cused of try­ing to de­fraud Nat­u­ral Dairy, fronted by May Wang, by claim­ing that the farms made a profit of $18.5 mil­lion in the year to May 2009 when they al­legedly made a loss of around $30m.

Wang, now bank­rupt, ap­peared in court in Hong Kong on cor­rup­tion charges. She faces two counts of deal­ing with prop­erty be­lieved to rep­re­sent pro­ceeds of a crime and one count of con­spir­acy to of­fer ad­van­tages to an agent.

Her for­mer busi­ness part­ner Jack Chen, now known as Chen Keen, faces the same charges. Both cases were ad­journed to April 18.

An in­ves­ti­ga­tion by the Se­ri­ous Fraud Of­fice helped Hong Kong’s In­de­pen­dent Com­mis­sion on Cor­rup­tion to bring about the charges.

‘‘The fur­ther charge re­in­forces our ini­tial view as to the best op­tions for law en­force­ment,’’ Se­ri­ous Fraud Of­fice chief ex­ec­u­tive Adam Fee­ley said.

‘‘We con­cur with the ad­di­tional ac­tion be­ing taken by ICAC and be­lieve that our law en­force­ment ef­forts can be most ef­fec­tively ap­plied to sup­port­ing the ICAC case through the ev­i­dence of SFO foren­sic ac­coun­tants in­volved with the in­ves­ti­ga­tion,’’ he said.

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