FujiXerox NZ corruption blows out towards $500m – while the establishment turns a blind eye

There has to be something rotten in New Zealand when FujiXerox NZ’s “accounting irregularities” of $472 million could be one of the largest corporate frauds in New Zealand history but the government, the establishment and law enforcement deliberately bury their heads in the sand.

“Taxpayers have been ripped off,” says the Leader of NZ First and Member of Parliament for Northland Rt Hon Winston Peters.

“The sum we are now talking about is far worse than the $285m that we exposed in April.  We understand that FujiFilm is updating the Tokyo and New York Stock Exchanges and it will put the level of “inappropriate accounting” at a jaw dropping NZ$472million.

“This will be big news internationally and drags our country’s name through the mud.

“NZ First asked questions about FuijiXerox last October.  We backed that up with written questions and an oral question that only got repeated National denials about FuijiXerox’s sharp business practices. 

“I was contacted by a major Japanese business journalist.  He said they were planning to run a story on Fuji Xerox New Zealand's fraud on 15 May. FujiXerox NZ is not just a company that is mired in ‘accounting irregularities’ but does not pay a cent in taxation.

“Yet FujiXerox got a clean bill of health from Ministers Steven Joyce and Simon Bridges, the Serious Fraud Office and the Auditor-General.  FujiXerox NZ got taxpayer contracts by the buckets-load and officialdoms cover up after cover up

“The National government paints this country as law abiding and trustworthy when too many members of the establishment including politicians are not,” says Mr Peters.