Yesterday David Cunliffe tried to smear a property owner; today his smear is in tatters.
The Overseas Investment Office says it is satisfied with the decision to allow a foreign company linked to the Panama Papers scandal to buy New Zealand farmland.
The Government agency, which vets all large or sensitive foreign investments in New Zealand, said it had no evidence that Panama-based company Ceol & Muir had breached any laws through its connection to Panama law firm Mossack Fonseca.
“The Overseas Investment Office [OIO] is satisfied that due process was followed in assessing a consent application by Ceol & Muir,” the agency said this afternoon.
Millions of documents leaked from Mossack Fonseca earlier this month showed that the law firm played a key role in helping the world’s wealthy hide their money and assets in foreign trusts, some of which was linked to criminal activity. Read more »