Hansa potentially another Ponzi
A Ponzi is a scheme where investors are paid from the investments of others, not through real investment returns.
The Financial Markets Authority and Serious Fraud Office said in July they were investigating Paul Clifford Hibbs, and his company, Hansa.
Hibbs offered investment advice services to high-net-worth clients. He was not a registered or authorised financial adviser.
One investor reportedly lost $650,000 with Hansa and told media that, at a meeting last week in Christchurch, about 30 investors were told by the FMA and SFO that there were indications that Hansa might have been a Ponzi scheme, there was no money left to repay them and a prosecution was likely.
An SFO spokeswoman said she could not comment on the matter because the investigation was continuing.
The FMA said it too had no comment because it was now an SFO investigation.
Hansa's investment prospectus says it deals with clients only by invitation and they must have investable assets of at least $1 million.
"Rest assured, Hansa provides the highest level of professionalism and experience and always in a climate of absolute confidence and discretion."
alan clarke
