Jump to content

Spying, People sacked....


Recommended Posts

Auckland sailmaker scammed like Team New Zealand

https://www.stuff.co.nz/sport/americas-cup/122036498/americas-cup-auckland-sailmaker-scammed-like-team-new-zealand

An Auckland sailmaker has revealed he was scammed out of $30,000 in a copycat method to Team New Zealand losing around $1m.

Rodney Keenan, who runs Evolution Sails which has international clients and suppliers, had a wry chuckle and plenty of sympathy when he heard of Team New Zealand’s loss this week.
 

Link to post
Share on other sites
  • 1 month later...

'No evidence of financial impropriety': Probe into America's Cup funding released

The report has found:
• there was no loan from ACE to ETNZ,
• there was no fraud by ACE or ETNZ,
• that no personal expenses of TNZ boss Grant Dalton or any other personnel were paid from Crown monies,
• that there has been no financial impropriety of any nature.

But a $3 million contribution to Team NZ by America's Cup Limited (ACE) will go to mediation with the Ministry of Business, Innovation and Employment (MBIE)

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12359848

 

Link to post
Share on other sites

America's Cup allegations: Audit finds no wrongdoing at Team NZ

ACE considered the $6.4m of work done by the team to create the AC75 class rule was a legitimate event expense, and the $3m contribution of event money was in line with the MBIE contract.

Beattie Varley in its final report, and Team New Zealand in July, both noted that the team and ACE had stopped providing information on June 9.

The auditors said from July 9, a significant volume of additional information came from ACE.

“Had we received this information in April or May, we would not have needed to raise many of the issues disclosed in the interim report,” Beattie Varley said in the final report.

The team at the time said that was because it was not sure how information was leaking from the organisation.

https://www.stuff.co.nz/sport/americas-cup/122569263/americas-cup-allegations-audit-finds-no-wrongdoing-at-team-nz

Link to post
Share on other sites

The whole thing has been an unwanted distraction for Team NZ, on the flip side this cant be good for the reputation of Mayo and Calder. On Fri they still had the AC on their website, I see it is gone now and the ACE are suing, it will be interesting to see what the legal judgment is as to the extent of accountability.

Having Dalts as CEO of ETNZ and ACE is tricky but I'm not sure it would work any other way.

 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...