Money laundering accused keeps his name a secret

The identity of an Auckland man charged on multiple counts of money laundering worth more than $1.7m will remain undisclosed.

In the Auckland District Court this morning, the judge accepted the defence's application for further name suppression, and ruled it would stay in place until the next court appearance on May 8.

Court documents detailing the charges allege victims' losses range from $500,000 to $1 million. In January, the man pleaded not guilty on all charges in the Manukau District Court.

His court appearance followed his arrest at a South Auckland address that same week, alongside the seizure of documents and computer equipment.

The judge at the time granted name suppression on the basis of potential damage to his reputation and business.

Auckland man Deepak, who asked not to have his last name published, was one of the alleged victims.

He reported a loss of $100,000 to police in July last year — about a month after he said he'd invested money in what he thought was a government-backed bond scheme in Australia.

The businessman told 1News at the time of the charged man's first court appearance that he felt like he'd let his whole family down.

"I should have been more cautious in my approach. It's a very difficult feeling to have and live with and I'm living with it every day."

Police were unable to comment further on the case while it was before the court.

In January, Detective Senior Sergeant Ryan Bunting described the arrest as a "significant development" in what was a complex investigation involving local and international authorities.