Core Cases

Hawke's Bay Fraud Investigations

Investigation document: Hawke's Bay Fraud Investigations

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RESEARCH 38: SERIOUS FRAUD OFFICE & FINANCIAL CRIME IN HAWKE'S BAY

Date: December 29, 2025 (UTC) Capture IP: 207.49.133.146 Objective: Document SFO investigations and financial crime prosecutions in Hawke's Bay

KEY FINDING: MULTIPLE FRAUD INVESTIGATIONS IN HAWKE'S BAY

SFO INVESTIGATIONS

Warren Pickett Case

Source: NZ Herald / Hawkes Bay Today URL: https://www.nzherald.co.nz/hawkes-bay-today/news/fraud-probe-into-bay-mans-firms/WST4WEKZEB5R3HK6DLYPES6ZS4/ > "The Serious Fraud Office confirmed it was investigating a 'case of substantial fraud' in Hawke's Bay concerning businessman Warren Pickett and his companies."

Hawke's Bay Kura Investigation (2018)

Source: Stuff.co.nz URL: https://www.stuff.co.nz/national/education/106291074/women-face-fraud-charges-following-investigation-into-hawkes-bay-kura > "A kura in Hawke's Bay has been subjected to a Serious Fraud Office probe, resulting in three women facing criminal fraud-related charges."

SFO Counter-Fraud Workshop (Recent)

Source: LinkedIn / SFO

> "Last week in Hawke's Bay our counter fraud workshop..."

This indicates the SFO is actively engaged in the Hawke's Bay region.

FMA PROSECUTIONS

Natalie Ann Carter (2024)

Source: FMA URL: https://www.fma.govt.nz/news/all-releases/media-releases/natalie-carter-sentenced/

| Element | Detail |

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

| Name | Natalie Ann Carter | | Location | Hawke's Bay-based | | Occupation | Mortgage broker | | Charges | 8 counts (pleaded guilty) | | Court | Napier District Court | | Sentence | 12 months home detention | | Date | March 13, 2024 | Offences:
  • Making false or misleading statements
  • Dishonesty offences

OTHER FINANCIAL CRIME

Murray McClune (2025)

Source: NZ Herald URL: https://www.nzherald.co.nz/business/financial-adviser-murray-mcclune-pleads-guilty-to-17m-theft-of-clients-money/YIFLJWNZV5AHPKIEGHRQLTC53Q/

| Element | Detail |

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

| Name | Murray McClune | | Occupation | Financial adviser | | Amount Stolen | $1.7 million | | Victims | Elderly clients | | Sentence | Up to 7 years (pending) | | Date | June 29, 2025 |

SIGNIFICANCE FOR INVESTIGATION

The Pattern of Financial Crime in Hawke's Bay

| Year | Case | Type | Amount |

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

| 2010 | Aquiline Holdings | Investment collapse | $12.5m (ANZ loss) | | 2011 | Infinity Foundation | Gaming trust fraud | Unknown | | 2018 | Hawke's Bay Kura | Education fraud | Unknown | | 2021 | Mana Ahuriri Trust | Self-dealing | $1m+ | | 2024 | Natalie Carter | Mortgage fraud | Unknown | | 2024 | DIA Gaming Charges | Bribery/corruption | Unknown | | 2025 | Murray McClune | Theft from elderly | $1.7m |

The Regional Pattern

Hawke's Bay has a documented pattern of:
  • Investment fraud (Aquiline)
  • Trust fraud (Infinity Foundation, Mana Ahuriri)
  • Professional misconduct (Carter, McClune)
  • Governance failures (DHB, gaming trusts)
  • Bribery/corruption (DIA charges)

The Professional Services Question

All of these cases potentially involved:

  • Lawyers (conveyancing, trust administration)
  • Accountants (financial reporting, auditing)
  • Trustees (trust administration)
The same professional services network (Langley Twigg, Oldershaw, NIT) operates in this region.

EVIDENCE CAPTURED

| Item | Source |

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

| Warren Pickett SFO | https://www.nzherald.co.nz/hawkes-bay-today/news/fraud-probe-into-bay-mans-firms/ |

| Kura Investigation | https://www.stuff.co.nz/national/education/106291074/ |

| Natalie Carter | https://www.fma.govt.nz/news/all-releases/media-releases/natalie-carter-sentenced/ |

| Murray McClune | https://www.nzherald.co.nz/business/financial-adviser-murray-mcclune-pleads-guilty-to-17m-theft-of-clients-money/ |