ANZ pulls sponsorship of investor groups that sent members offensive tutoring video

  • The country’s biggest bank has terminated its sponsorship of the Auckland Property Investors Association (APIA) amid fallout from a tutoring video encouraging investors to target desperate homeowners.

The video, by Auckland property tycoon Ron Hoy Fong, urged buyers to look for the “seven Ds” – which included deceased estates, divorcees, dummies who don’t know the value of their homes and desperate families facing tight deadlines or mortgagee sales.

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Property investor Ron Hoy Fong, outside one of his properties on Gillies Ave in Epsom. Photo / Jason Oxenham