Over in New Zealand they’re well and truly riled up over the “Blue Chip” fiasco which has seen $80 million in investors money disappear.
The Blue Chip founder Mark Bryers last week plead guilty to “34 charges of failing to complete financial statements in relation to the running of the Blue Chip group.”
For this he was sentenced to a $37,470(NZD) fine and 75 hours of community service.
Bryers is also a bankrupt with $235 million owed. But he’s offering his “unreserved and deepest apologies”.
The interesting thing from a Canberra angle is that, according to a report in the NZ Herald, Northern Crest Investments is paying Bryers over $10,000 a month, and the $5,000 a month rent on his Sydney apartment, for his “intellectual property”.
The chair of Northern Crest Investments is, according to the NZ Herald, “Marc Wilson, a Canberra accountant.”
One wonders what Mr Wilson hopes to gain from Mr Bryers’ expertise?