Native Affairs - We lost our Treaty millions – Part 1

updated By Iulia Leilua

Native Affairs Exclusive - In August this year, Native Affairs reported on the hurt and concerns of Ngāti Tama beneficiaries following multimillion dollar losses of their Treaty of Waitangi settlement monies.

Concerned beneficiaries questioned iwi leadership, lack of accountability and a decision to invest significant treaty settlement monies in a software venture, MyVirtualHome International Ltd (MVHI), with kiwi entrepreneur, David Phillips.

Mr Phillips was, in fact, prepared to be interviewed by Māori Television for our story.

He says that he lost $1.1million dollars in the failed venture with Ngāti Tama and hopes for positive outcomes to refund monies to the independent investor interviewed in the programme.

Ngāti Tama members interviewed by Native Affairs broke ranks to publicly challenge the new leadership and demand answers.

Click here for Part 2 of this story.