Alleged ponzi fraudster’s hair and beauty business owes $1.4m

By on April 20, 2017
Alleged ponzi fraudster's hair and beauty business owes $1.4m

A hair and beauty products company owned by a man who ran what is thought to be a significant ponzi scheme owes more than $1.4 million.

The possible sale of the company has also been shelved after suppliers pulled out following the company's receivership.

Christchurch-based Boutique Hair & Beauty, which supplied international hair and beauty product brands to salons across the country, was in February tipped into receivership.

Its majority owner, Paul Clifford Hibbs, was last year named as being under investigation by the Serious Fraud Office (SFO) and Financial Markets Authority (FMA), relating to another of his companies, Hansa.

Read the full article by Hamish McNichol > Business Day - stuff.co.nz




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