BUSINESS

NZ Gaming Commission Deems Trusts Untrustworthy

TAGs: New Zealand, The Southern Trust, The Trusts Charitable Foundation

forfeited moneyThe New Zealand Gaming Commission has upheld the pleas from gambling foundations to punish trustees for irresponsible spending. The licenses of two gambling companies have been suspended in what appears to be a gross and inappropriate abuse of public funds. While other reports indicate the abuse was widespread in the industry, those who got pinched like the Southern Trust and The Trusts Charitable Foundation aren’t getting off easy on a rebuttal that “Well everyone else was doing it”. Read more.

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