Sep 8, 2008

Auditor Concerned Over NZ First Declaration

Audrey Young tries to reconstruct the tangled finances of NZ First in today's NZ Herald

A New Zealand First auditor had concerns in May about whether an elaborately structured donation to the party should be declared.
An Electoral Commission email sent to auditor Nick Kosoof indicates the donation was of one large sum but had been channelled through eight separate companies in amounts under $10,000. Donations of $10,000 and over must be declared. All the companies had the same shareholders and directors.
The email points to the $80,000 donation being one the Vela brothers made to NZ First.

The Vela brothers have both horse racing and fishing interests.