The Government has now stopped any further payments to America's Cup organisers as it investigates claims over the spending of public money. "It is a deliberate, sinister, and highly orchestrated attack which includes anonymous tip-offs, recordings and document leaks." To date, $29 million has been paid to ACE (America's Cup Events) in line with contractual funding milestones. He said no public money was lost in the scam. It also lifts the lid on officials' concerns that the event organisers, ACE and Team NZ, are in breach of obligations.

Source: Otago Daily Times July 03, 2020 03:22 UTC