Hussain’s Story

In 2002, my family and I made the life-changing decision to leave our home country in search of a more honest and just way of living. We were tired of the corruption and greed that surrounded us, and we longed for a place where we could freely choose our own paths. That place turned out to be New Zealand, a country that captured our hearts when we first visited in 1993.

The visit to New Zealand in 1993 that changed my life forever. I fell in love with the country and its people and knew it was the perfect place for my family to call home. With this in mind, I enrolled my children in top private schools and began building my business relationships in the country. My journey as an entrepreneur in New Zealand began in 1996 when I took a leap of faith and started my own business.

In 1996, I approached a local bank for small funding for sections, which eventually grew into tens of millions of dollars. This bank became my first bank lender for all my successfully completed projects. I was grateful for their trust in me and the opportunities they provided to help me grow my business.

As my business flourished, I sought out new opportunities and purchased land in Parnell. Another local bank funded the purchase, and my first bank took over the development funding, arranging a second-tier lender for the project. However, halfway through the construction in 2007, the project started going off the rails, and the second financier took control of the project. It was a tough time for me and my business, but I knew I had to keep pushing forward. I signed a deed of waiver to their request and paid $273,000 to my first bank to continue funding the project. This was a challenging moment, but it taught me the importance of perseverance and determination in the face of adversity. In the end, we successfully completed the project, and it stands as a testament to my resilience and commitment to my work.

After years of hard work and dedication, I found myself at the centre of a difficult situation. As a property developer, I had just completed a project that had been financed by two different bank. However, upon completion, a manager from the second financier arrived at my office with a sale and purchase agreement for one of the apartments, insisting that I sign it. Despite my previous signing of a deed of waiver, the manager claimed that they could claim the GST on the sales if I agreed to sign.

Despite the immense pressure, I refused to sign the agreement. My lawyers advised me against it, warning me of potential legal repercussions from the Inland Revenue Department. The manager persisted and even threatened me, but I stood firm in my principles. However, this decision ultimately cost me dearly. My refusal to sign the agreement led to the deterioration of my relationship with the bank and the loss of my wealth. Furthermore, my reputation was tarnished, resulting in the complete destruction of my life and my family’s.

My family struggled to make ends meet, and I was determined to provide for them. That’s why I took it upon myself to sell rejected fruits to shops around the city, driving an old rented van to make a living. It was a challenging job, but I persevered, knowing that every penny counted.

However, my life took a sudden turn when I received a call from a special investigator from the IRD. They were investigating a GST claim made by a second lender and wanted access to the privilege note my lawyer had taken during the meeting. Despite feeling intimidated, I knew I had nothing to hide, and I provided the note. The investigation led to the recovery of $1.2 million. But as fate would have it, I was soon facing a legal battle of my own. I was accused of intention when I instructed my accountant to reverse the GST return, even though I never pocketed a single dollar. It was a challenging time for me as I juggled running my fruit business and serving my time. But I remained resilient, knowing that I had done nothing wrong.

As I reflect on my journey, I realize that my past mistakes have led me to where I am today. It hasn’t been easy, but I am proud of the progress I have made. In the past, I had struggled with financial mismanagement. I made the decision to turn my life around, and it wasn’t easy. One of the things that I am most proud of is the fact that I am now up to date with all of my taxes. I have also developed a strong relationship with the Inland Revenue Department, and I am committed to being honest and transparent in all my dealings. I love New Zealand, and I feel honoured to call it my home. I am proud to be part of a country that has such a strong sense of community and values.

My experiences have taught me that the issues we face as a society are not with the country or the laws but with people who choose to abuse them. I have learned that it’s important to take responsibility for our actions and to work hard to make things right. While our judiciary system provides a clean slate after seven years. However, the financial and investor community can still be hesitant to work with someone who has had financial difficulties in the past. This is why I am passionate about sharing my story with anyone who is doing research and looking to make informed decisions.

I’ve gained a wealth of experience and knowledge that I use as tools to navigate my way to a bright and productive future. I’m not the same person I was back then, but I’m grateful for the lessons I’ve learned and the person I’ve become. I have learned to use my past as a foundation for creating opportunities in the present. I am confident in my ability to navigate whatever challenges come my way and work towards a bright and productive future.

I find there is a life outside debt funding.

Click to view letter from IRD outlining current positive standing.

Now, I will let you decide what is best for you without any external influence.