Fuji Xerox Is Under Investigation

After Fuji Xerox New Zealand (FXNZ) was reported on accounting irregularities, New Zealand government has stepped in to investigate on the possible fraud.

According to stuff.co.nz, The Serious Fraud Office of New Zealand, the agency responsible for government contracts, is monitoring FXNZ, which had allegedly received more than $55m for all-of-government contracts since 2012.

The government agency is now taking new information for investigation since the famous document company revealed accounting irregularities at its local subsidiary earlier this month. Potential losses caused by the said irregularities are estimated $285 million.

On Friday, the parent company Japan-based FujiFilm Holdings said it had set up an independent investigation committee to review the appropriateness of accounting practices at its New Zealand branch.

New Zealand First leader Winston Peters, who has pressed the Government on an investigation since last year, reiterated that they may be dealing with a fraud case here.

“At stake is something very serious because our inquiries reveal such serious concerns with Fuji Xerox that it could involve corruption. It now seems that the parent company in Japan suspects the same thing because we all know what ‘accounting irregularities’ is really short code for,” Peter said.

Peters also believes that the company was favored by the Government. Fuji Xerox have yet to comment on the corruption claims.

“This investigation has no impact on the current levels of service we offer our customers in New Zealand,” said a Fuji Xerox spokesman on Friday.

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