Husband and wife sentenced in SFO Ponzi scheme case involving almost $4 million

Two offenders in a Serious Fraud Office (SFO) prosecution have today been sentenced in the Christchurch High Court for their roles in a Ponzi scheme involving almost $4 million and more than 55 investors.

Thomas Alexander Kokouri Tuira (also known as Alex Tuira) was sentenced to six years, four months imprisonment. The Court imposed a minimum period of imprisonment, requiring Mr Tuira to serve 45% of his sentence before being eligible for parole. His co‑offender, Aroha Awhinanui Tuira was sentenced to five years, two months imprisonment. The offenders who were married at the time of the offending, had each earlier pleaded guilty to two representative charges of obtaining by deception.

SFO Director Karen Chang said, "Ponzi schemes cause deep and lasting harm to victims, many of whom lose not only their money but also their trust in others. The guilty pleas meant those affected were spared the stress of a trial, and today's sentences hold the offenders to account for the significant harm they caused."

Between May 2014 and May 2021, the pair deceptively obtained $3.9 million through 106 transactions. They presented themselves as experienced, well‑connected investors who could deliver returns for clients, when in reality they did not invest funds or operate an investment business.

Instead, they used a Ponzi‑type arrangement, paying some investors with funds from others and spent money on personal expenses.

The defendants primarily targeted Māori communities, developing close personal relationships with investors, many of whom had limited prior experience with investing. Their offending relied on building and then exploiting these trusted relationships.

Ms Chang said, "Fraud which abuses relationships and connections to a particular community can be especially destabilising to social fabric and damaging to trust. This case shows the harm that can occur when that trust is exploited and why this type of offending is a strategic area of focus for the SFO."

The SFO thanks the witnesses and victims who came forward and supported the investigation; their cooperation and willingness to engage were critical to achieving today's outcome.