Police say they have recovered $462,000 as part of an ongoing investigation into an international pyramid scheme which was being run out of Europe and which also operated in New Zealand.
Police have revealed the "successful collaboration" has allowed them to be able to restrain a Wellington property, which means that house cannot be sold on or disposed of.
The money is alleged to have been sent to a New Zealand-based associate of Luxembourg national Frank Schneider and used to buy assets and property between 2018 and 2020.
Schneider was arrested in France in 2021 after being charged by United States authorities with conspiracy to commit wire fraud, and with money laundering.
He was the CEO of Sandstone which was contracted by Onecoin Ltd, a company alleged to have created a NZ$6.5 billion dollar pyramid scheme originating in Europe.
However, despite initially being arrested, he is now on the run having escaped house arrest. Other executives from OneCoin Ltd have been prosecuted or are also on the run. Police did not provide specifics on them.
Det Insp Christiaan Barnard of the Central Asset Recovery Unit confirmed there was "no suggestion" any of the Onecoin suspects were currently in New Zealand.
"The New Zealand Police will continue to work with our international partners to ensure that New Zealand’s financial system is not abused to hide illicit income," he said.
