Fullerton Markets' trustee Kiwi Global Trust, which made a complaint to the Police, loses a director

Hot on the heels of interest.co.nz's story about Fullerton Markets' trustee laying a complaint with the Police, one of the trustee's two directors has stepped down.

Companies Office records show lawyer John Langford ceased being a director of Kiwi Global Trust on November 28.

Langford told interest.co.nz he quit as a Kiwi Global Trust director to free up his time.

"The main reason was that as a sole practitioner lawyer I have found the role has demanded more of my time than I have available, taking account of other existing commitments," Langford said.

Interest.co.nz previously reported that Kiwi Global Trust, which acts as trustee for unlicensed forex trader and registered New Zealand financial service provider Fullerton Markets, had laid a complaint with the NZ Police involving about $4 million that had been moved overseas from an ANZ NZ bank account.

Malaysian national Chanthrueen Sarigabani, who has been a key figure at Fullerton Markets, was forced to leave NZ in September after his attempt to renew his work visa was rejected by Immigration NZ.

Previously Langford told interest.co.nz; "I confirm that a matter has been referred to the Police. The matter is under active investigation, and it may well be prejudicial to any investigation or subsequent steps to provide further details of any allegations in a public forum. I regret that I am not in a position to provide any more specific information, at this time."

Spokespeople for both the Police and ANZ declined to comment.

Langford departing as a Kiwi Global Trust director leaves Brenda Turner as the sole director. She is the wife of Fullerton Markets' executive director Paul Turner.

Meanwhile, Langford said he had not received any update on the matter referred to the Police.

Below: Sarigabani (left), then Finance Minister Bill English & Fullerton Markets CEO Mario Singh (right) pictured at the company's Wellington launch party in June 2016.

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5 Comments

I don't blame Bill English for this photo but I bet he wishes it didn't exist. In New Zealand we have really good access to politicians so sometimes this just happens.

Bill English loves unregulated businesses so I doubt he has any regrets. That said National MPs are not the sort of company that you would want to keep, look at who they spend their time with: people that have no intent of obeying the law.

Come to NZ where you can do (almost) whatever you like

Deportation - AU to NZ
We deport people "who hold a general disregard for Australian laws and values", Immigration said

I wonder if Bill had to pay for the book he is holding! Maybe he just went for the buffet dinner..... Or maybe as the Finance Minister he went to get some advice on a bit of Unlocking for our economy...

What will you get at this book launch event for $25?
Personalised signed copy of Mario’s new book “Unlocking the World’s Largest Financial Secret”
Market outlook from Jimmy Zhu, Senior Economist at FXPRIMUS
Buffet dinner
Networking with the smartest traders
Additional book purchases at a 32% discount

Goodness...Our politicians have hopefully learned by now that their image tacitly endorsing a brand can and will be used to legitimise that brand in their sales and marketing. (On that note, I - like many others - struggle to believe Judith Collins didn't know that what she was doing was improper when meeting authorities with Oravida, her husband's business, nor the help her meeting them might provide.)