Serious Fraud Office Asked To Investigate Union Finances

Published: Wed 11 Apr 2012 01:17 PM
11 April 2012
News Release
Serious Fraud Office Asked To Investigate Union Finances
Affco New Zealand Limited today confirmed that it has laid a complaint with the Serious Fraud Office, on behalf of its workers, to investigate the financial accounts of the New Zealand Meat Workers and Related Trades Union.
Affco is required to deduct the Union fees from staff wages and pay that money to the Union. Affco CEO, Hamish Simson says from what the company has seen the Union is not complying with its statutory reporting requirements and there appear to be irregularities in the Union’s financial accounts.
“It appears from the Union’s published financial statements that only a fraction of its total income has been declared. Affco workers contribute over $500,000 to the union each year, paying $5.95 each per week. Affco workers represent less than 10% of the 23,000 members the Union says it has and yet it only declares revenue of just over $700,000 per annum”.
Mr Simson says the union has failed to disclose what has been done with the contributions Union members have made. “In the last 5 years alone tens of millions of dollars of workers’ wages have been deducted by the Union across New Zealand and paid into what appears to be a black hole. The Union’s accounts provide no level of comfort."
“More and more of our staff are starting to question where their money has gone.
With the Union now asking the public for donations, every workers’ dollar must be accounted for,” he said.

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