Media Insider: The upscale Los Angeles lifestyle of fraud-accused Stripe Studios managing director Alex Breingan

The Serious Fraud Office has laid 33 charges against Breingan, relating to almost $15 million in public and private funding for 13 TV shows, produced under the banner of his Auckland-based Stripe Media (Stripe Studios) company, and associated firms.

The SFO alleges he made false representations and used forged documents.

The charges follow a two-year investigation by the agency and work by receivers BDO, which uncovered debts of more than $20 million as well as “irregularities” in the accounts of the failed Stripe companies.

There are now questions over whether Breingan will return to New Zealand voluntarily to appear in court, or face extradition with help from Interpol. No date has been set for his first appearance.

Until then, Breingan lives an intriguing new life in Los Angeles - seemingly working to establish himself in the production industry there, while living in Calabasas with a woman who has been facing her own financial and legal issues, including a case involving her former husband and alleged out-of-pocket investors.

The NZ Herald has been investigating Alex Breingan and Stripe Studios for more than two years. Breingan was a well-known and generally popular character in the production sector, seen by many as a natural charmer, with a gift of the gab.

That’s borne out in his ability to attract some of New Zealand’s top screen and sporting talent for his shows, including former All Blacks Israel Dagg and Stephen Donald. Those who know Breingan say he adores mixing with celebrities.

Two of his biggest international collaborators have been Baywatch and Knight Rider star David Hasselhoff and Netflix comedian Iliza Shlesinger, who filmed separate travel-comedy shows for Stripe in 2023. But both projects turned sour when Stripe Studios collapsed in 2024. The pair are among the creditors, although their shows were subsequently rescued thanks to another production firm, Perpetual Entertainment.

UK-born Breingan came to New Zealand in 2002, and originally 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 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.

Breingan lived in a home in Whangaparāoa, north of Auckland, with his now ex-wife, Rachel Hart, a former TV3 reporter who, in more recent years, has built a strong social media following under the moniker One Handed Baker. The couple have two children.

The couple’s former home featured prominently on a Stripe-produced show, called the 100 Day Renovation, which screened on Sky Open (formerly Prime) in 2019.

The marriage is now over, and the home, which was no longer listed under Alex Breingan’s name, was sold in September last year for $2.05 million.

Hart has not responded to messages from the Herald this week or previously.

On Facebook on Wednesday - the same day that the SFO announced charges against her former husband - she wrote: “New Year, new house, new start, new bookcase (!)

“Just to be very clear, I officially - and legally left this club a long time ago.”

Accompanying her post was a photo of a selection of books in a bookcase, with titles On Top of Everything, I’ve Got Your Number, The Hideaway, The Spanish Love Deception and... The Marriage Club.

Breingan made several trips to Los Angeles in 2023, telling industry peers that he was attempting to sell Stripe shows and projects to overseas studios. It is understood he usually stayed at The Hollywood Roosevelt, an upmarket hotel on Hollywood Boulevard.

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 that the SFO was investigating Stripe Media.

In laying the 33 charges against Breingan, the Serious Fraud Office has alleged he made false representations and used forged documents to obtain more than $4.3 million in Government-funded rebates and $10.2 million in lending for 13 TV projects.

Breingan has yet to comment.

According to an earlier liquidator’s report into Stripe Media, he claimed a funding agreement U-turn by the New Zealand Film Commission was to blame for the company’s 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.

At some stage between November 2023 and mid-2024, and amid publicity about Stripe’s collapse, Breingan moved permanently to Los Angeles, initially living in an apartment, before meeting Darci Penn, and moving into her home in Calabasas.

It is understood that Darci Penn and Alex Breingan were a couple in Los Angeles by mid- to late-2024.

They now live together in a home that has been extensively renovated over the past decade, before Breingan arrived on the scene. It is considered one of the best and most immaculate houses on the street, with a likely value of between $US1.6m-$US2m.

The couple share two high-end luxury vehicles.

Penn has four young children from her marriage to her now former husband, Andrew Penn.

The Herald has been told Breingan and Penn seem to live a “carefree” lifestyle, with the use of childcare and occasional getaways.

A local martial arts club has video footage of the pair watching and filming an end-of-year awards ceremony.

Breingan is still believed to be working in the production industry - it is understood he has set up a production company called 2nd Hour Films.

The IMDB movie database lists Alex James as the founder of 2nd Hour Films. James is Breingan’s middle name.

DO YOU KNOW MORE? Please email in confidence - shayne.currie@nzme.co.nz

On its website, 2nd Hour Films describes itself as a Los Angeles-based production company “developing bold, original film and television projects with global appeal”.

Earlier this week and up until Friday morning, 2nd Hour Films had 12 productions listed on its homepage, featuring stark marketing promotions for TV shows and movies with names ranging from Deceit, Faceless, The Circus of Death, Hospicetality, Boss Bitches and The Real Karate Kids.

Several of the images had been generated by ChatGPT, according to their screengrab file names.

Many of the listed shows and movies did not yet appear to have been filmed, produced or released.

At least two that did have casts attached were linked to another film company and said to be in pre-production, with Alex James listed as a producer.

Later on Friday morning - and after the initial publication of this Herald article - the 2nd Hours Film website was promoting only one film, Hospicetality.

2nd Hour Films says its team’s “extensive experience” includes collaborations with NBC Universal, Netflix, Warner Bros Discovery, CBS, Legendary Entertainment, and Paramount Pictures, “delivering premium storytelling across genres”.

“With a proven track record of Emmy Award nominations, film festival success, and the production of over 1000 episodes of television, [the] 2nd Hour Films team has an eye for creative excellence and commercial results.”

Alex James’ biography on IMDB states he is a film and TV producer, writer, and executive producer “known for creating original formats and compelling screenplays”.

“With multiple independent films in production and a slate of scripted and unscripted series in development, he is in demand for his creative vision, strong storytelling, and expertise as a development producer.”

On Instagram, 2nd Hour Films has one post from November 2024 - another promotional image for The Circus of Death and the promise of it “coming soon”. Apart from another reference on the company’s website, this movie is nowhere to be found.

The Instagram account had four followers earlier on Friday morning. One of them was Penn, but her name was no longer there later in the morning.

The account also follows three people. Penn remains one of those three.

Darci Penn has been fighting her own legal and financial battles in recent years.

In 2024, her by-now-ex-husband stood accused by California’s Department of Financial Protection and Innovation (DFPI) of being involved in the illegal sale of securities to a group of six investors, in which he raised at least $US622,275.

According to one DFPI document, Darci Penn was originally accused by the DFPI of assisting her husband in soliciting prospective investors through phone calls and in-person meetings, but she denied this and successfully and legally fought to stop any orders against her.

According to the DFPI, Penn’s ex-husband provided investors with a “private investment agreement” that indicated he would use the proceeds from the securities to acquire, hold and sell artworks.

He was accused by the DFPI of telling investors that their investment was “fully guaranteed” with a 40% return over 19 months; that they would receive semi-annual payments; and that their investment had “zero risk”.

“In fact, none of these statements were true,” says a DFPI document.

“At least five of the investors never received any payments. One investor did receive a portion of the original deposit after asking for a refund, but received no profits. At least six investors have made multiple requests for a refund ... but have been unsuccessful.”

In July 2024, Darci Penn filed for a voluntary Chapter 7 bankruptcy petition, seeking to protect her share of the value of the Calabasas home.

According to a Bankruptcy Court document, she and her husband separated in January 2023, and she filed a petition for their marriage to be dissolved in April 2023.

According to the document, a state court had awarded her monthly child support of $41,000 and monthly spousal support of $40,000 to begin in June 2024.

But she told presiding judge Victoria Kaufman that her ex-husband had not paid the amounts and “she doubts he ever will”, according to the court document.

She is seeking to protect her share of the value of the home that she still co-owns with her former husband. Some of the burnt investors have been fighting this.

The bankruptcy case gives an insight into Penn’s lifestyle - and arguably that of Alex Breingan.

Penn told the court that her monthly income was $946.83, from her job as a part-time office administrator at an insurance agency in Calabasas. She said fulltime employment would be impossible while raising four children.

She told the court she owned “minimal personal property totalling less than $15,000″.

“Debtor [Penn] estimated her transportation expenses to total $400 monthly. Debtor further estimated her monthly childcare and children’s education costs to total $4600 monthly. According to Debtor, her mother owns and pays for the car which Debtor drives and pays the tuition expenses for Debtor’s children.”

Penn denied that she had “substantially assisted” her ex-husband in the securities scheme and said her interest in the Calabasas home was “reasonably necessary” for the support of her and her children.

A decision is understood to be pending.

Alex Breingan has repeatedly refused to be interviewed by the NZ Herald over the past two years. He has accused the Herald of false and defamatory reporting, without ever citing any specific errors.

Last September, a US-based lawyer wrote to the Herald, asking for three articles to be removed. The Herald declined the request.

The lawyer acting for Breingan said his company was acting as “negotiators and facilitators”.

“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,” said the lawyer, John Lambert.

“Furthermore, Alex is suffering ongoing, negative impacts on their personal and professional lives as a result of the media on this topic and the ease with which it is discoverable via internet search.

“Alex wishes to move beyond all the negative online media. While certain information should be archived, it is no secret that the internet and technology have made it increasingly difficult to move beyond any type of negative associations, regardless of accuracy and veracity, no matter how small.”

The law firm said yesterday it was no longer representing Breingan.

The Herald has sought to again speak to both him and Penn this week, with so far no response.

The receivers of Stripe Media told the Herald that they welcomed the action being taken by the Serious Fraud Office.

“In the course of carrying out their statutory duties, the receivers and their team completed an investigation, identifying a significant number of irregularities across the Stripe Media Group and provided comprehensive reports and information ... to the Serious Fraud Office and the Registrar of Companies,” said Rees Logan and Andrew McKay of BDO.

“Insolvency practitioners have statutory obligations to report suspected offences, and in circumstances where financial redress for creditors cannot be readily achieved, it is appropriate and reassuring to see serious action being taken by the relevant authorities.”

MBIE, meanwhile, says it is awaiting the outcome of the SFO case “before further pursuing” Breingan’s prohibition to be a company director.

“While MBIE’s investigation remains ongoing, should Mr Breingan be convicted of the charges laid by the SFO, he would be captured by the provisions of section 382 of the [Companies] Act and prohibited for five years from the date of conviction.”

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.