PHOTO: JASON DORDAY/STUFFWon Joo Hur pleaded guilty to one charge of obstructing an investigation.
An overseas investor pleaded guilty and has been convicted and fined $100,000 in the Auckland District Court for misleading the Overseas Investment Office (OI) during an investigation into a property transaction.
This is the first time a person has been convicted of an offence under the Overseas Investment Act 2005.
On Friday, Won Joo Hur pleaded guilty in the Auckland District Court to one charge of obstructing an investigation.
Vanessa Horne, group manager for the Overseas Investment Office, said Hur and his lawyer gave false information to the OIO in May 2017.
“In July 2016, Hur entered an agreement to buy a property in Helensville,” she said. “The transaction could not be settled as Hur was an overseas person and he did not have consent under the Overseas Investment Act for the purchase. A company associated with Hur’s lawyer bought the property to avoid Hur forfeiting a large deposit.
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