“The alleged offending relates to the financing of 13 television programmes that were produced, or proposed to be produced, by Mr Breingan through his Stripe Studios companies.”
The New Zealand Film Commission (NZFC) alerted the SFO in November 2023 to what it called concerns about an Auckland television studio’s applications for the Government’s Screen Production Rebate scheme.
NZ Herald inquiries later revealed the SFO was investigating Stripe Media.
The NZFC today welcomed the SFO developments, and defended the rebate scheme and the way it was monitored. It described this case as an “isolated matter”.
Breingan now lives in the United States and is yet to appear in court. He has previously declined to speak to the Herald. He may choose to return to New Zealand voluntarily to face the charges, or authorities might need Interpol’s help to extradite him.
Stripe Media and 13 associated companies collapsed in 2024, with creditors owed more than $20m across various projects.
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Among the creditors have been Kiwibank, financing firm Fulcrum Media Finance, and two Hollywood heavyweights – former Baywatch and Knight Rider star David Hasselhoff and TV/Netflix comedian Iliza Shlesinger, who both came to New Zealand to film separate travel series for Stripe in 2023.
The original Stripe promotion for David Hasselhoff’s and Rhys Darby’s Kiwi TV series.
Stripe Media was placed in receivership in March 2024, and receiver BDO has previously said its investigations had uncovered “irregularities” in the company’s finances.
The receiver said these alleged “irregularities” had been referred to “relevant authorities”.
Comedian Iliza Shlesinger applied to have Stripe Studios (Comedy) Ltd liquidated.
The SFO has previously confirmed it received a complaint from the NZFC but until now, it had consistently declined to say whether it was investigating any matters in relation to Stripe.
According to an earlier liquidator’s report, Breingan claimed a funding agreement U-turn by the NZFC was to blame for the liquidation – but the NZFC has previously said it “rejects that it is responsible in any way for the financial circumstances” of the company.
The NZFC administers the screen production rebate scheme on behalf of the Government. The scheme allows producers to receive cash back for money already spent, provided their productions meet a range of criteria.
The scheme – offering a 40% return for domestic productions and 20-25% for international projects – is designed to encourage more film and TV work in New Zealand.
Alex Breingan
UK-born Breingan moved to New Zealand in 2002 but is now living in Los Angeles. While in New Zealand, he co-founded Choice TV (which later became Eden) and later Stripe Media and various associated companies, most of which were special vehicle firms attached to specific productions.
He has been responsible in the past for shows such as The Circus, Rich Listers and Great Southern Truckers. He also produced the TV3 morning chat show The Cafe from 2016 to 2020.
Among the Stripe companies which have gone into receivership were those set up for new seasons of The Circus, Rich Listers and Snow Crew and a France-focused travel show hosted by former All Blacks Israel Dagg and Stephen Donald in 2023.
Stripe Studios managing director Alex Breingan.
Breingan himself has refused to give any interviews or answer Herald questions over the past two years. He has previously accused the Herald of false and defamatory reporting.
In September last year, a US law firm, purportedly representing Breingan, wrote to the Herald requesting that it remove three articles in relation to him.
“While we support the media and free speech rights, we believe there are additional facts and/or context, of which you may be unaware, that would change the nature of the story, result in potential inaccuracies, or inadvertently lead readers to an inaccurate conclusion.”
The Herald has stood by its reporting. A further request to interview Breingan was ignored.
Creditors owed millions
David Hasselhoff filmed his series – originally called Hoff the Beaten Track – alongside comedian Rhys Darby, in New Zealand in 2023.
But the series became becalmed in post-production, after the collapse of Stripe.
Hasselhoff himself was owed money for his own work.
David Hasselhoff, left, filmed the Kiwi comedy and travel series with Rhys Darby, right, in 2023, before Stripe Studios collapsed.
The show was eventually saved and resurrected by another production firm, Perpetual Entertainment, and it screened on Three last year, under a new name, Hoff Roading.
Perpetual Entertainment NZ managing director and executive producer Vicki Keogh said earlier: “Resurrecting this production was important, not just to ensure the hard work of the cast and crew is seen, but also to repair relationships with international talent.
“We’re delighted to be partnering with Warner Bros Discovery and Fulcrum Media Finance on this entertaining and heartfelt series and we’re grateful to David and Rhys for trusting us to bring their story back to life.”
On social media on Tuesday night, Keogh announced the separate Shlesinger show would be “coming soon” to Sky Open in New Zealand and SBS in Australia. The series is called This Tastes Funny with Iliza Shlesinger.
Comedian Iliza Shlesinger.
Alongside Hasselhoff and Shlesinger, other creditors of the Stripe companies include Kiwibank and financing firm Fulcrum Media Finance.
“No assets of value or funds have been recovered, the director has not been located and a statement of affairs has not been received,” said an earlier liquidator’s six-monthly report into Stripe Media Ltd.
The Official Assignee liquidator wrote that BDO, which was appointed receiver in March 2024, was continuing its investigations into the affairs of the company.
Those investigations were running adjacent to an inquiry by the Ministry of Business, Innovation and Employment’s (MBIE) business registry team.
While the Official Assignee has said it can’t locate Breingan, he is now living in California.
Breingan was once listed as the owner of a home just north of Auckland, before his wife and another person became the registered owners. It was sold in September last year for $2.05 million.
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NZFC responds
In a statement on Wednesday, the NZFC said it welcomed the SFO developments.
“As NZFC publicly confirmed in November 2023, material provided by an applicant for the New Zealand Screen Production Rebate for New Zealand Productions (NZSPR – NZ) was investigated by NZFC and concerns were identified,” said NZFC chief executive Annie Murray.
“Those concerns led NZFC to review previous applications from the same media group in which other concerns about the reliability of documents provided to NZFC in support of NZSPR – NZ applications were identified. These matters were immediately referred to the SFO.”
NZFC chief executive Annie Murray.
She said the NZFC cooperated fully with the SFO.
“NZFC has long-established systems for the assessment of rebate and funding applications, including staged certifications, independent verification requirements, and audit mechanisms. These robust processes exist to protect public funds, ensure fairness for applicants, and maintain the integrity of New Zealand’s screen incentives.”
She said the vast majority of rebate applications proceeded without issue and continued “to support employment, skills development, and New Zealand’s international screen reputation”.
“New Zealand remains a trusted and attractive production destination. This isolated matter does not reflect the broader performance of the rebate system.
“As part of normal governance practice, NZFC continually reviews and strengthens its processes, including specialist expertise in production budgeting and financial verification.
“Continuous improvement is standard regardless of isolated cases. We are confident that the combination of our internal expertise and verification processes are fit for purpose such that only legitimate NZSPR applications receive the rebate.”
MBIE probe
Breingan has also been under investigation by MBIE’s (the Ministry of Business, Innovation and Employment) integrity and enforcement team (IET).
“[IET] is currently investigating Alexander James Breingan’s suitability for prohibition pursuant to section 385 of the Companies Act 1993,” Vanessa Cook, national manager, criminal proceeds integrity and enforcement, said in a statement in 2024.
That section “allows for the prohibition of directors who have had at least one company fail due to mismanagement”.
Cook said Breingan was the director of 13 companies currently in receivership.
“Mr Breingan is not currently disqualified from being appointed as a director of a company,” said Cook.
“Section 151 of the Companies Act 1993 sets out the grounds that render an individual disqualified from being a director of a company.
“The receivers of the above-listed companies have an ongoing obligation to advise the Registrar of Companies (the registrar), along with any applicable agency, including the New Zealand police, of any serious offending they identify in the course of liquidating a company.
“While Mr Breingan is already under consideration for prohibition, in the event further breaches of the Companies Act are brought to the attention of the registrar, enforcement action will be considered in accordance with our enforcement approach.”
In March last year, MBIE said it was continuing to assess the matter.
Editor-at-Large Shayne Currie is one of New Zealand’s most experienced senior journalists and media leaders. He has held executive and senior editorial roles at NZME including Managing Editor, NZ Herald Editor and Herald on Sunday Editor and has a small shareholding in NZME.