Now that the government has ignored the opposition to their ill-fated asset stripping of SOE value, it appears that someone in the government is leaking private information from the sale. Is there a kickback system in operation? Perhaps to help fund the exorbitant upfront costs of sale?
3 news is reporting that:-
Serious questions are being asked about how a sharebroking firm managed to obtain the details of a woman who’d just registered her interest in buying Mighty River Power shares.
The woman, who wants only to be known as Elizabeth, registered on the 0800 number, and within 15 minutes received an email from Milestone Financial Services, asking to represent her.
RadioLIVE business editor Andrew Patterson says alarm bells should be ringing about how the company obtained the investor’s details so it could go phishing for a commission.
“What happens is if you lodge your application through a broker then the Government will effectively pay a commission to the broker for that transaction.”
Business commentator Bernard Hickey says the incident reflects badly on the Government.
“It’s not a good look for the Government or the brokerage because there shouldn’t be someone inside that 0800 number feeding that information on to a broker,” says Mr Hickey.
A spokeswoman for SOE Minister Tony Ryall declined to comment on the issue late last night, and referred inquiries to Treasury.