A married couple has admitted their role in running a Ponzi scheme that defrauded $3.9 million from more than 55 investors over seven years, with prosecutors saying the pair specifically targeted New Zealand's Māori community.

New Zealand Couple Admits Role in $4M Ponzi Scheme

Aroha Awhinanui Tuira pleaded guilty today (Monday) to two charges of obtaining by deception in Christchurch High Court. Her husband, Thomas Alexander Kokouri Tuira, known as Alex, had already admitted to the same charges last week.

The Serious Fraud Office (SFO) says the couple convinced investors they were experienced, well-connected professionals who could deliver strong returns. But instead of investing the money, they operated a classic Ponzi scheme – using new investor funds to pay earlier investors while spending the rest on personal expenses.

“Ponzi schemes cause deep and lasting harm to victims, many of whom lose not only their money but also their trust in others,” said SFO Director Karen Chang. “The guilty pleas in this case mean those affected will be spared the stress of a trial, and those responsible have been held to account.”

You may also like: New Zealand's FMA Issues 110 Warnings in a Year as It Joins Global Anti-Fraud Alliance

7 Years of Operations

The fraud ran from May 2014 to May 2021, involving 104 separate transactions. Prosecutors say the Tuiras deliberately cultivated close personal relationships with their victims, many of whom had little investing experience.

The couple's targeting of the te ao Māori community makes the case particularly troubling, according to Chang. She said fraud that exploits community ties can be especially damaging to social trust.

“Fraud which leverages an affinity to a particular community can be especially destabilising to social fabric and damaging to trust,” Chang explained. “This case shows the harm that can occur when that trust is exploited.”

The SFO has made prosecuting cases involving vulnerable communities a priority, especially where groups may need extra protection from financial predators.

Both defendants are scheduled for sentencing on November 7, 2025. The case highlights ongoing concerns about investment fraud in New Zealand, where regulators have warned about the particular risks facing communities with limited financial literacy.