The Serious Fraud Office has launched a probe into the failed finance company Mutual Finance Limited.
It says there is reason to suspect serious or complex fraud may be uncovered at the firm and its related companies.
The company was put into receivership in July by its trustee, owing about $17-million to about 450 people.
Of this $16.6 million was paid out under the Crown Retail Deposit Guarantee Scheme.
The fraud office says an investigation was launched on 23 December.
It says it's acting after getting information from the receiver and the Ministry of Economic Development's National Enforcement Unit.
Mutual Finance's collapse was the sixth such failure to trigger the Government's guarantee scheme.
