Investment scheme 'too good to be true'
It should have been too good to be true, as Justice Ronald Young pointed out in his doorstop of a judgment.
Sunday, November 30th 2003, 1:06AM
by The Landlord
The bearded and bespectacled judge was referring to the Actonz investment scheme which, by promising vast tax savings, attracted a horde of investors hyped by the 1990s technology bubble.
However, what obviously appealed to investors as a great idea in 1996 soon foundered as the tech bubble burst and the Inland Revenue Department started investigating.
Read More - Opens in a new window
| « Building consents plummet | Slowdown for listed property » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
