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Australian businessman fined for skirting OIO rules
Summary by farmersweekly.co.nz
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Australian businessman fined for skirting OIO rules
Reading Time: 2 minutes An Australian businessman’s attempt to buy New Zealand farmland with cryptocurrency has resulted in a combined $440,000 for him and the New Zealand businessman who assisted him. Australian citizen Daniel Klaus illegally bought 91 hectares of farmland in northern Hawke’s Bay for $4.5 million using a New Zealand-based company fronted by New Zealander Michael (Mike) Newcomb, according to the High Court judgement. Consent und…
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