A major probe into allegations of fraud and corruption involving Canterbury earthquake rebuild contracts has concluded there's been no wrongdoing, the Serious Fraud Office said today.
However, the Serious Fraud Office (SFO) continues to warn of the potential for fraud and corruption as work gears up in rebuilding the devastated city.
The investigation began last July following a complaint that raised some specific concerns in relation to repair 'scope of work' - the process of providing insurers with an estimate of likely repair or rebuild costs, prior to settling claims.
The concerns related to suspicions that estimates were being inflated and resulting in more lucrative repair contracts once claims were accepted.
Having previously highlighted concern for the potential for serious financial crime during a rebuild period, SFO wanted to minimise or eradicate any risk of fraud with early intervention.