By 3 News online staff
Fraud allegations are circling a Far North Maori trust after court documents revealed $1 million of funding has disappeared.
Two years ago the Parengarenga 3G Trust received $1 million of funding – now it has just $13.41 in the bank.
According to the New Zealand Herald, a judge removed four trustees in August after allegations surfaced they paid themselves $600,000 over a year. A further $400,000 is also unaccounted for.
In 2009 the Maori Land Court appointed seven people to replace the Maori Trustee organisation to be responsible for a 500ha forestry block in Parengarenga.
In September 2012, the Maori Trustee deposited $1.09 million into the trust's account. In the following months three of the four former trustees – Stephen Henare, his daughter Stephanie Henry, and Margaret Dixon – were given "substantial" payments, according to a judge.
Court documents show that in the two years between September 2012 and 2014, the trust paid more than $200,000 to the Stephen Henry Whanau Trust, where Mr Henare and his daughter are trustees.
The Bear Legacy Company Ltd, where Mr Henare has a 10 percent shareholding, received $100,000.
After the payments the trust's bank accounts were left with a total of $13.41, according to the Herald.
After the four trustees were removed in August, a judge issued an injunction freezing the bank accounts of Mr Henare and his daughter, as well as Ms Dixon, up to $1 million.
3 News
source: newshub archive
