3 Mar 2020
R v JIAXIN FINANCE LIMITED & ORS [2020] NZHC 366
- Citation
- [2020] NZHC 366
- Court
- High Court
Starting points for charges of failing to conduct CDD, failing to keep records and failing to report suspicious transactions were set at a global level equivalent to 60% of the maximum fine for a single charge; Jiaxin fined NZD 2,550,000 (15% reduction from $3,000,000 start), Qiang Fu fined NZD 180,000, Fuqin Che fined NZD 202,000 (including an additional fine for structuring); no custodial sentences imposed because substantial fines alone were adequate to achieve sentencing purposes; alleged foreign convictions were not proved to the required standard and were not used to increase penalty; t…