Tenths Trust gets some money back
The Tenths Trust is set to recover some of the money that went into an ‘‘executive’’ home for Sir Ngatata Love and his onetime partner Lorraine Skiffington.
Love served a prison sentence for obtaining property by deception when he was chairman and a trustee of the Ma¯ ori land owning body, the Wellington Tenths Trust. Skiffington was accused of having been party to the deception but the prosecution against her was stopped because of her ill-health. Both Love and Skiffington are now dead.
It’s not yet clear how much the trust will see of the approximately $375,000 left from the house sale.
Love and Skiffington bought the house at 12 Moana Rd, Plimmerton, for $1.8 million in December 2006, with $1.17m that should have gone to the Tenths Trust being used to reduce the mortgage.
Police began proceedings to restrain the house in February 2014, and an application to sell the house, to preserve its value from increasing mortgage arrears, was granted in July 2017.
The house, described in real estate sales information as an ‘‘executive’’ home, was sold in late December 2017 with property records showing a sale price of $1.53m. The rateable value was $1.87m.
When the High Court ordered the sale in July 2017 it was said the mortgage to Westpac stood at about $1m with arrears approaching $100,000. At the High Court in Wellington on Monday the court heard that Westpac bank’s mortgage had been repaid in full.
Police confirmed that about $375,000 was left for the Tenths Trust and to pay some administrative costs. The trust would also get any interest payable on the amount they recover.
Detective Senior Sergeant Brent Murray, of the police central assets recovery unit, said returning the money was hoped to reduce the loss as much as possible for the trust and its beneficiaries, and make a difference for them.
The proceedings to recover the money were taken under the Criminal Proceeds (Recovery) Act. The act’s function was to prevent criminals benefiting from crime and causing harm within communities.
Police encouraged anyone to contact them who knew of suspicious financial activity or people who seemed to have money or assets without apparently having legitimate means.