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Hansa potentially another Ponzi

Regulators are not commenting on claims investment firm Hansa potentially a Ponzi scheme.

Thursday, September 29th 2016, 12:47PM 1 Comment

A Ponzi is a scheme where investors are paid from the investments of others, not through real investment returns.

The Financial Markets Authority and Serious Fraud Office said in July they were investigating Paul Clifford Hibbs, and his company, Hansa.

Hibbs offered investment advice services to high-net-worth clients. He was not a registered or authorised financial adviser.

One investor reportedly lost $650,000 with Hansa and told media that, at a meeting last week in Christchurch, about 30 investors were told by the FMA and SFO that there were indications that Hansa might have been a Ponzi scheme, there was no money left to repay them and a prosecution was likely.

An SFO spokeswoman said she could not comment on the matter because the investigation was continuing.

The FMA said it too had no comment because it was now an SFO investigation.

Hansa's investment prospectus says it deals with clients only by invitation and they must have investable assets of at least $1 million.

"Rest assured, Hansa provides the highest level of professionalism and experience and always in a climate of absolute confidence and discretion."

Tags: serious fraud office

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Comments from our readers

On 4 October 2016 at 7:02 am blogger billy said:
We’re the FMA at our offices at Britomart
And we think that we’re pretty smart
Looks like another Ponzi scheme has got past us
If it’s true there will be another great big fuss
We are supposed to protect investors so they don’t lose money
But if they do, Goldenboy will send us to the dunny
Whenever mum and dad investors lose some dosh
We tell them it was the NAFA’s who caused their loss,
But someone here might get the chop, probably our CEO
We will all pretend to be sad if our Rob has to go
But even if he does, 160 of us will still be here
And we don’t we eat sausages, chips and beer
We’ll still make sure we get the champers and caviar
And that the AFA’s only get the bitter vinegar

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