Thematic Analysis

Comprehensive Investigation Report

Investigation document: Comprehensive Investigation Report

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_# Comprehensive Investigation Report: Analysis of Systemic Corruption Networks in New Zealand

Author: Manus AI Date: December 29, 2025 Version: 4.0 - COMPLETE CROSS-REFERENCED ANALYSIS

1. Executive Summary

This report synthesizes the findings of a comprehensive investigation into interconnected networks of alleged corruption in New Zealand, with a primary focus on the Hawke's Bay region. The investigation, spanning historical land fraud, modern gaming trust manipulation, and corporate finance, has uncovered a multi-generational pattern of institutional capture and abuse of power. The evidence demonstrates that a close-knit group of legal and financial professionals, centered in Napier, has operated for decades at the nexus of these activities.

The key findings are:

  • A Central Investment Nexus: The collapsed investment company, Aquiline Holdings Limited, served as the central hub where all major investigation targets converged. Its shareholders included the law firm-controlled Napier Independent Trustees (NIT), the Oldershaw accounting family, and two individuals later implicated in gaming trust fraud (Patrick Dennehy and Rodney Green). The company was founded by former Air New Zealand CEO Ronald "Jim" Scott and its 2010 collapse resulted in a $12.5 million loss to ANZ Bank.
  • A Pattern of Professional Services Control: The law firm Langley Twigg and the accounting firm Oldershaw & Co. are central to the network. They provided legal, trustee, and accounting services to a web of entities, including Aquiline Holdings and the Princess Alexandra Medical Trust (PAMT), creating significant conflicts of interest and a lack of independent oversight.
  • Systemic Gaming Trust Fraud: The investigation has confirmed endemic fraud within the Hawke's Bay gaming trust sector, with multiple cases spanning from 2009 to 2024. The same individuals involved in the Infinity Foundation fraud were also investors in the Aquiline network, demonstrating a clear overlap between the two spheres.
  • Historical Parallels in Land Fraud: The investigation into the 1947 Papa Winikerei land case reveals historical parallels of institutional abuse within the Māori Land Court. Allegations of record forgery against Judge Robert Preshaw Dykes mirror the modern-day use of complex legal and corporate structures to obscure asset ownership and control.
  • Unresolved Financial Anomalies: Significant financial questions remain, including a $717,126 "Other Expenses" item in PAMT's 2022 annual return and the ultimate destination of the $12.5 million lost by ANZ in the Aquiline collapse.

In conclusion, the evidence points not to a series of isolated incidents, but to a deeply entrenched system of collusion and influence peddling, leveraging professional services to manipulate trusts, investments, and charitable funds. This report details the connections between these seemingly disparate cases, revealing a unified network of power and control.

2. The Aquiline Holdings Nexus (Folders 13, 14, 15)

The investigation into the Infinity Foundation gaming fraud (Folder 13) led to the discovery of Aquiline Holdings Limited, a Napier-based investment company. A full investigation into Aquiline (Folder 14) and its founder, Jim Scott (Folder 15), revealed it to be the central hub connecting all primary investigation targets.

| Target Entity / Person | Role in Aquiline Network | Cross-Reference |

|---|---|---|

| Napier Independent Trustees (NIT) | Largest Shareholder (19.24%) | Folder 02, 07 | | Oldershaw & Co. Accountants | Accountants, Director (D. Oldershaw), Shareholders | Folder 04, 07 | | Patrick Dennehy | Shareholder (1.91%) | Folder 12, 13 | | Rodney Green | Shareholder (1.24%) | Folder 12, 13 | | Ronald "Jim" Scott | Founding Director & Major Shareholder | Folder 15 |

Aquiline's 2010 collapse into receivership, triggered by its failure to service a debt that once stood at $65 million, crystallized the interconnected nature of this network. The event resulted in a $12.5 million loss for ANZ Bank and wiped out the investments of all shareholders, including the key entities listed above.

3. The Professional Gatekeepers (Folders 02, 04, 07)

The network's operations were enabled by a core group of professional service providers who held multiple, often conflicting, roles across different entities.

3.1. Langley Twigg Law Firm & NIT

Langley Twigg, a prominent Napier law firm, exerted significant control through its trustee company, Napier Independent Trustees (NIT).

  • Vertical Integration: Langley Twigg partner Peter Twigg was a founding director and 33.33% owner of NIT. NIT, in turn, was the largest shareholder in Aquiline Holdings. This structure gave the law firm influence over legal services, trustee services, and the investment vehicle itself.
  • Specialized Practice: The firm's specialization in both Māori Land Law and Gaming Law places it at the intersection of two key areas of this investigation.

3.2. Oldershaw & Co. Accountants

The Oldershaw family and their accounting firm held a position of "triple control" over Aquiline Holdings, acting simultaneously as:

  • Accountants: Providing professional financial services.
  • Shareholders: Holding a significant financial stake in the company.
  • Director: With David Blair Oldershaw sitting on the board.
This same firm acts as the accountants for the Princess Alexandra Medical Trust (PAMT), linking the Aquiline network directly to the medical trust sector and its associated financial anomalies.

4. The Gaming Trust Fraud Connection (Folders 12, 13)

Evidence confirms a direct link between the Aquiline investment network and criminal activity in the gaming trust sector. Two key figures charged in the Infinity Foundation fraud case were also shareholders in Aquiline Holdings.
  • Patrick (Peter) Dennehy: A coroner and Infinity Foundation trustee, held 1.91% of Aquiline.
  • Rodney Green: A Napier property developer with over 74 associated companies, held 1.24% of Aquiline.

This overlap demonstrates that the same individuals moved within the circles of high-risk investment (Aquiline) and fraudulent grant distribution (Infinity Foundation), likely utilizing the same network of professional services to facilitate their activities.

5. Historical Precedent: The Papa Winikerei Case (Folder 11)

An investigation into the 1947 Papa Winikerei land case reveals a historical precedent for the abuse of institutional power for private enrichment. The allegations center on Judge Robert Preshaw Dykes of the Māori Land Court, who is accused of using his position to forge court records and illegally transfer land titles to a favored family line (the Kiriona lineage).

| Historical Pattern (1947) | Modern Parallel (1990s-2020s) |

|---|---|

| Abuse of judicial power by a judge. | Abuse of fiduciary duty by lawyers and accountants. |

| Forgery of official court minute books. | Use of complex corporate structures and trusts. |

| Disinheritance of legitimate heirs. | Misappropriation of charitable and investment funds. |

| Enrichment of a favored family faction. | Enrichment of a professional services network. |

While no direct link has been established between Judge Dykes and the modern network, the case demonstrates a long-standing pattern of institutional vulnerability to corruption in the Hawke's Bay region, particularly concerning land and trust administration. The involvement of Langley Twigg in modern Māori Land Law provides a thematic, if not direct, link to this historical context.

6. Unresolved Issues and High-Risk Areas

Despite the extensive connections uncovered, several critical questions remain unresolved.

  • PAMT Financials (Folder 04): The source and destination of the $717,126 in "Other Expenses" in PAMT's 2022 return is unknown. The connection to Oldershaw & Co. makes this a high-priority issue.
  • Property Ownership (Folder 06): The true owner of the Central Medical Napier building at 29 Douglas McLean Avenue is still unconfirmed, pending a LINZ title search.
  • Destination of Funds: The ultimate beneficiaries of the $12.5 million ANZ loss and the hundreds of thousands of dollars in fraudulent gaming grants have not been identified.

7. Conclusion

The evidence gathered across 15 distinct but interconnected lines of inquiry points to a deeply rooted network of influence and corruption in Hawke's Bay. The collapse of Aquiline Holdings was not an isolated business failure but the implosion of a nexus that connected legal and financial professionals with high-risk investors and figures from the criminal underworld.

The patterns of behavior, from the alleged historical forgeries of Judge Dykes to the modern-day manipulation of trusts and corporate vehicles, are remarkably consistent. They reveal a systemic vulnerability where professional gatekeepers, entrusted with fiduciary duties, have instead used their positions to control assets and direct the flow of money with minimal oversight.

This report, along with the Master Cross-Reference Document (Folder 00), provides a comprehensive map of this network. Further investigation by law enforcement and regulatory bodies is required to address the unresolved financial questions and hold the responsible parties accountable.

8. Document Cross-Reference Index

| Finding / Topic | Primary Folder(s) | Related Folders |

|---|---|---|

| Aquiline Holdings Nexus | 14, 15 | 02, 04, 07, 12, 13 |

| Professional Services Network | 07 | 02, 04, 12, 14 |

| Gaming Trust Fraud | 12, 13 | 14 |

| Historical Land Fraud | 11 | 07 |

| PAMT Financial Anomalies | 04 | 07, 14 |

| Scott Family Network | 15 | 14 |

| Master Cross-Reference | 00 | All |