A couple from New Zealand have admitted running a $4 million Ponzi scheme ($2.3 million US) built on false claims of personal ties to NBA legend Michael Jordan, luring 61 investors into funding projects that never existed.

Thomas ‘Alex’ Tuira and his wife, Aroha, promised high returns from ventures they said were backed by Jordan, Tony Robbins, and other wealthy figures, but court documents show not a single dollar was invested, according to Radio New Zealand.

Instead, the Serious Fraud Office says the money was used to pay earlier investors and bankroll the couple’s lifestyle until the scheme collapsed under mounting withdrawal requests.

For seven years Tuira spun elaborate lies about rubbing shoulders with Jordan, convincing dozens of investors to hand over millions between May 2014 and May 2021. 

The scheme was unveiled in a courtroom in Christchurch as Tuira and his wife, Aroha, admitted running the Ponzi operation that returned nothing in genuine profits.

They promised high returns from projects ranging from housing developments to a sports stadium allegedly commissioned by Jordan – a project one high-profile investor believed he was funding. 

In reality, neither Tuira had any link to the basketball star, motivational speaker Tony Robbins, or other wealthy figures they claimed as mentors.  

Instead, the funds were used to pay earlier investors in classic Ponzi fashion and to cover personal expenses from rent to travel to everyday living costs.

A couple from New Zealand, Thomas ‘Alex’ Tuira and his wife, Aroha, have admitted running a $4 million Ponzi scheme

The Ponzi scheme was built on false claims of personal ties to NBA legend Michael Jordan , luring 61 investors into funding projects that never existed

As the court put it, ‘Mr and Mrs Tuira presented a facade that they were successful and well-connected businesspeople… In reality, the defendants did not operate an investment business and did not invest any of the funds.’

As part of the pitch, prospective investors were courted in the Tuiras’ Christchurch home, where Alex projected PowerPoints filled with high-profile names including Michael Jordan and Tony Robbins.

He displayed photos of himself with Robbins and financial author Robert Kiyosaki, telling attendees they were personal mentors. In fact, the photos were snapped at large public seminars.

On several occasions, Alex boasted of billion-dollar backing from Indian tycoon Sanjiv Saddy. While Saddy had once been introduced to Tuira, he never invested a cent.

Investments were often pitched as ‘exclusive’ and ‘time-sensitive.’ 

In a June 2019 text to one couple, Alex proposed a deal with ‘a 50 percent return in 16 months plus bonuses,’ urging them to act quickly. 

In another message, he promised ‘the best investment deal on the table… 6 months with a 15% Return on Investment,’ warning there was only a ‘small window of opportunity’ to join.

Aroha, meanwhile, became the primary contact once investors signed on. 

As part of the pitch, prospective investors were courted in the Tuiras’ Christchurch home, where Alex, pictured, projected PowerPoints filled with high-profile names including Michael Jordan and Tony Robbins

Alex Tuira displayed photos of himself with Tony Robbins and financial author Robert Kiyosaki, telling attendees they were personal mentors. In fact, the photos were taken at public events

Court documents describe her as regularly engaging on a personal level ‘to generate love and trust,’ attending every pitch meeting, prompting Alex during presentations, and co-signing agreements.

Living off investor cash The Serious Fraud Office (SFO) found NAIL was ‘effectively insolvent from 2017 onwards.’

Of the $4.7 million received by the couple and their companies, $1.4 million went to paying off other investors, more than $500,000 to travel, $478,000 to personal spending, and $270,000 on rent.

When pressed for withdrawals, the couple offered excuses ranging from illness to ‘delays with clearing funds’ and ‘legal problems.’ 

An April 2019 warning from their accountant bluntly noted the returns ‘appear to be funded… by new investors,’ cautioning that this ‘could be perceived… to be a ‘Ponzi Scheme’ which is… illegal.’ 

The Tuiras dismissed the concerns, insisting their ventures were legitimate.

Alex Tuira appeared to have an obsession with Jordan and Nike. He is pictured here at Nike World in Las Vegas in August 2014 soon after his scam began

So confident of his own investing abilities, Tuira, seen far right, even taught classes in financial literacy, pictured here in September 2014

As part of the pitch, Alex, seen left, would court prospective investors as he projected PowerPoints filled with high-profile name. In fact, the photos were snapped at large public seminars

By mid-2021, requests for withdrawals surged. 

Internally, the pair compiled a spreadsheet labeled ‘here is the reality of our money 2021,’ showing they owed $7.9 million to investors and creditors.

The SFO formally opened its investigation in November 2021 after multiple investor complaints, including from former Ngāi Tahu chairperson Sir Mark Solomon. 

In an email to some investors at the time, Alex blamed ‘under performance’ for the lack of returns and dismissed accusations as ‘unjustified.’ He even floated the idea of defamation proceedings against critics.

The investigation revealed the couple’s elaborate deception – a ‘continuous course of deceptive conduct’ built on exploiting trust within their Māori and Jehovah’s Witness communities. 

Investors were welcomed into their home ‘as friends and whānau,’ all while their money disappeared into the couple’s accounts.

In May 2023, the SFO laid charges and the pair were set to stand trial last week until Alex pleaded guilty before it began, with Aroha following on Monday. 

Both admitted two representative counts of obtaining by deception.

The couple will be sentenced in November.