Funding withheld after allegations of spying and misuse of public money
New Zealand froze payments to America's Cup organisers on Thursday as officials investigate fraud claims in the lead-up to 2021's prestigious yachting regatta in Auckland.
The ministry has previously said it was investigating “structural and financial matters” surrounding the organisation of the race but provided no further details. The New Zealand Herald said late on Thursday that TNZ's lawyers had obtained a gag order from the high court preventing it from publishing the findings of an interim report into event finances.The ministry's statement revealed that the government was withholding NZ$11m, part of a NZ$40m “hosting fee” paid to ACE.
Other issues cited in the letter included an unwillingness to provide information and “poor governance, including suggestions that records should be retrospectively amended”.
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