The Serious Fraud Office has dropped an investigation relating to a company that owns and runs about 140 early childhood centres because of insufficient evidence.
An investigation into Kidicorp Group Ltd, which is based in Tauranga began on 30 June last year into accusations of fraud relating to funding received from the Ministry of Education.
The SFO says its team analysed Kidicorp documents, electronic data and interviewed staff.
Chief executive Adam Feeley says it was a thorough investigation and there is not enough evidence to lay criminal charges.
But he says administrative matters of concerns have been identified and these will be considered by the ministry.
Kidicorp managing director Wayne Wright says the investigation was stressful, but he was always sure his company had done nothing wrong.
