Emirates Team New Zealand.

[Stingray~]

Who said the "spies" were MBIE appointees... Not likely

An NZ Herald article named the company that MBIE hired to oversee the ACE books. 
 

Because of NZ whistleblower laws to protect them, nobody in NZ will name them but TE did, during his Sailing Illustrated Show today, which he believes from NZ sources are the correct names. Employees of the legal/auditor/accounting outfit working for MBIE.

 

[Miffy]

Just let it play out lads. No one is fleeing the country for Monaco at the moment and there’s plenty of attention from the gov to not sweep this under. 
 

Again to reiterate. You can be a whistleblower. You can also be spying for another competitor. The difference is whether you’re reporting the alleged conduct to the proper authorities or random non-gov competitors. It won’t be hard to figure out who is going to be in trouble. 

 

[Xlot]

X? They seem to be treating it with humor

“Excusatio non petita, accusatio manifesta” (ask Clean)

Their comment is Kiwis are generally clumsy and out of step when having to deal with Cup politics. But when they get on the water ..

FareVela’s take: ETNZ doubt - victims of a scam or improper use of public funds?

 

[Stingray~]

“Excusatio non petita, accusatio manifesta” (ask Clean)

Their comment is Kiwis are generally clumsy and out of step when having to deal with Cup politics. But when they get on the water ..

FareVela’s take: ETNZ doubt - victims of a scam or improper use of public funds?

Thnx. No mention of a possible LR/PRADA connection? TE hinted at something in passing but I was distracted when he did and missed the subtlety.

 

[Stingray~]

The $3M was ‘not a loan’

https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12344613

 

[The_Alchemist]

B1    Te Aihe 

B.5   Te Kahu

B2.   Te ????

I am going with Te He....

 

[Varan]

Or te stick

 

[Stingray~]

The scammed funds simply needed to be replaced by other revenue at ACE.

Good material.

But on this snipped part, just for fun:

the money was sent to Hungary....

https://www.sailweb.co.uk/2020/06/30/americas-cup-team-defrauded-by-scammers/

Did LE ever have money problems?  I saw him one evening at an AC event in San Diego with two young Eastern European ladies (twins, it appeared) he’d flown down with for the eve, on a private jet, on short notice about if they would even show up that eve or not, with Guns and Roses (was it?) already there in case he did. $3M was the very last thing on his mind. 

 

[Stingray~]

???

The Herald reports the Crown has made a thinly-veiled threat to withhold the next tranche of taxpayer funding, revealed in a confidential letter.

https://home.nzcity.co.nz/news/article.aspx?id=314318

 

[kenergy]

"The Herald reports" ....

Unfortunately the Herald seems to be as reliable as my mates uncle's workmate who heard something down the pub. 

 

[smackdaddy]

Smackdaddy from what I've read of your posts...

Piss off newb.

 

[Stingray~]

https://www.newshub.co.nz/home/sport/2020/07/america-s-cup-2021-team-new-zealand-investigated-over-public-money-in-hungarian-bank-account-report.html

Serious allegations of fraud at Team New Zealand have emerged, with claims public money was mishandled.

Auckland Council and the Ministry of Business, Innovation, and Employment (MBIE) are alleging a $3 million loan given to Team New Zealand has been reclassified and linked to a Hungarian bank account, according to a letter seen by NZME.

 

[WakaNZ]

more

https://www.nzherald.co.nz/americas-cup/news/article.cfm?c_id=531&objectid=12344408&ref=rss

Just got sent some more intel... seems M&C may not to be sleeping well at night...
 

 

[smackdaddy]

The email scam which resulted in the payment to a fraudulent Hungarian bank account was...

...as we now know in retrospect, the oldest scam on the internet. However, because the Prince who sent that email was from Hungary - and not Nigeria - we had full confidence that it was a legitimate offer. The terms were very satisfactory to our Board and CEO, who signed the approval for a payment of $1M to the sender, Prince Álmos; to be wired to his anonymous bank account. Prince Álmos assured us, many times, that this "fee" was necessary to release the $250M that the Hungarian Government had set aside for the AC36 event - out of the monarchy's love for the Cup based on Hungary's long and storied maritime history. Obviously, this transaction would have immediately reimbursed the NZ Government for its huge financial losses on this event. So there was little to discuss. It was seen as a great deal for all involved. ETNZ had finally found its secondary sponsor, and we were already planning clever, free-to-air cross-promotions between McDonalds and Hungary. Everyone was lovin' it.. However, after not hearing back from Prince Álmos for several months post-payment, we began to grow suspicious that there were spies everywhere. So we started blaming the accountants and whistling loudly, hoping no one would notice.

It's quite okay, though. Not to worry. We'll simply replace this loss with all the money we will be losing on the event itself. Nothing to see here. Hey, look, the majestic Te Aihe is on (oops under) the water! PetieB has a new mansion! For ourselves! And all that....

 

[Stingray~]

...as we now know in retrospect, the oldest scam on the internet.

I wonder what the invoice was supposedly to pay for? Wierd.

 

[Stingray~]

Just got sent some more intel... seems M&C may not to be sleeping well at night...
 

???

 

[MR.CLEAN]

that's funny smack.  finally something.  those online comedy classes are paying off.

 

[smackdaddy]

I wonder what the invoice was supposedly to pay for? Wierd.

Whatever it was, GD said he signed it without looking at all the "noughts and ones on the bank account" - whatever that means. Sounds very fiduciary. Top-notch management.

 

[desprit]

One has to wonder whether or not M&C are on the same payroll as Smackdaddy. 

 

[Stingray~]

Whatever it was, GD said he signed it without looking at all the "noughts and ones on the bank account" - whatever that means. Sounds very fiduciary. Top-notch management.

To give him credit, perhaps he thought the account had been vetted before it came across his desk? 
 

The concern for MBIE and their possible disagreement with ETNZ (Dalton) appears to be mostly about ‘how’ the taxpayer money is being spent, including maybe ETNZ salaries draining from ACE money instead of from ETNZ funds. One article suggested that ETNZ Designer salaries were being paid out of MBIE funds, even with an excuse for it having been done ‘in the event’s better interests’ or somesuch? 
 

There’s also a chance that ACE funds are in trouble.  NZ and Auckland committed a lot but it was up to ETNZ to raise the rest of the event’s sponsorship, maybe PRADA has not come through as big as had been predicted?