The Serious Fraud Office is investigating an exporter of infant milk powder and manuka honey that receivers say collapsed owing more than $1 million.
Nubiotics, owned and directed by Waikato businessman Trevor Lock, entered receivership and liquidation in August last year, after falling behind on payments to boutique lender Waikawau Finance.
Nubiotics marketed a range of colostrum-based cosmetics, active manuka honey and infant formula accompanied by impressive-sounding health and scientific claims.
Trevor Lock is described in company literature as having a masters degree in biotechnology and bio-engineering from Waikato University, and formerly employed by Anchor as a nutraceuticals development manager.
Reports prepared by receiver McDonald Vague show the company had been accepting deposits to provide products, but "had failed to complete" the agreements.
