Ripped off Tauranga Blue Chip investors are meeting Justice and Commerce Minister Simon Power next week to explain their concerns about New Zealand's poor financial policing.
Tauranga based coordinator for Exposing Unacceptable Financial Activities, Suzanne Edmonds, says Blue Chip director Mike Bryers' light sentence yesterday was expected.
Suzanne Edmonds says the light sentence for Mark Bryers was expected.
He was fined $37,500 and ordered to perform 75 hours community service on 34 charges.
Their issue is that New Zealand's financial police - the Securities Commission, the Commerce Commission and the Companies Office are not doing their job.
"If they had done their job in the first place, we wouldn't be in this position," says Suzanne.
"I run a restaurant in Tauranga, we have the local food inspectors, kitchen inspectors around all the time checking we are doing it right."
The financial system is not carrying out those inspections, and is failing to stop people who are not working within the financial law, says Suzanne.
Even after he was declared bankrupt, Blue Chip director Mark Bryers still received special treatment, says Suzanne.
"A normal person wouldn't get out of New Zealand, but Bryers does. How are they letting that happen?
"If you are bankrupt and want to go for a holiday, you have to apply for permission to go for a holiday.
"Our authorities have let him go to Australia where he seems to be able to live a high life."
All this while the Blue Chip investors continue to suffer, says Suzanne.
"We have failed as a country to protect these victims and the country is continuing to fail them."
Bryers is employed as a consultant for Australian company Northern Crest Ltd, formerly Blue Chip Financial Solutions, for $10,000-$12,000 a month.
Blue Chip collapsed in 2008 owing investors $80 million.



3 comments
Lucky
Posted on 21-05-2010 14:30 | By The author of this comment has been removed.
Yes lucky I was not sucked in by any of these rogues - the statements above are quite correct - this man should not have been able to leave town without very strict conditions - in the old days his like would have been lynched for all the pain and suffering he and his like have caused - Anyone got any wet lettuce or maybe a damp tram ticket!
Lucky
Posted on 21-05-2010 14:30 | By The author of this comment has been removed.
Yes lucky I was not sucked in by any of these rogues - the statements above are quite correct - this man should not have been able to leave town without very strict conditions - in the old days his like would have been lynched for all the pain and suffering he and his like have caused - Anyone got any wet lettuce or maybe a damp tram ticket!
lang
Posted on 22-05-2010 14:43 | By lang
Greed is not an appropiate word to apply to the people who invested in Bluechip. We must consider all the other descriptions of a failed government system of control. The words victim, theft, fraud, lies, legalised theft, mental cruelty, these can all apply to the situation. Do not forget that the banks that we are supposed to trust all thrive on greed & perhaps many of the other descriptive words I have used. Remember, we all invest in banks.
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