Police Minister Poto Williams said the money will come from the Proceeds of Crime Fund.
The company, TamoRx, was founded by the University of Auckland's Dr Joanna Mathy and Professor Rod Dunbar.
Police say the scammers are based offshore and the likelihood of investors recovering their losses is low.
Building teams are out doing inspections in Levin on Saturday after Friday's tornado damaged a number of homes.
After a second request, Poto Williams has agreed to allow National's police spokesperson, Mark Mitchell to meet Andrew Coster.
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