New Zealand’s Serious Fraud Office Looking at Fuji Xerox New Zealand Operations
In the wake of reporting a pre-tax loss of some $50 million for its fiscal year that ended on March 31, 2016, New Zealand’s Serious Fraud Office is reportedly investigating Fuji Xerox New Zealand, a subsidiary of Fuji Xerox of Japan.
According to Stuff New Zealand, New Zealand’s Serious Fraud Office is investigating accounts and service contracts at Fuji Xerox New Zealand. New Zealand government leader Winston Peters is also said to have “raised questions about Fuji Xerox in Parliament.”
The Serious Fraud Office (SFO) hasn’t commented on the matter, but it’s said that “it is understood preliminary inquiries have been made,” although no formal investigation has been launched. Such a decision to investigate further is expected soon, however.
New Zealand leader Peters is said have asked whether Fuji Xerox had disclosed its financial loss to the New Zealand Ministry of Business, Innovation and Employment before being awarded a Digital Asset Management contract, and is said to have “queried the value of any contracts, as well has how many government and whole of government contracts, Fuji Xerox has received since 2012.”
Regarding its loss, Fuji Xerox is said to have reported that it has enough resources to continue operations for the next 12 months. Parent company Fuji Xerox of Japan is also said to be “committed to providing financial assistance if and when necessary.”