Monday, February 23, 2009

New Zealand Financial Oversight bodies fail Blue Chip investors

"We've already sold our home. We're in a one-bedroom council flat. That's all we've got."

Two former Blue Chip "investors" in their 70s, in Mark Bryer's Blue Chip Ponzi Scheme forced to sell their house after losing all they have.

Meanwhile Bryer's runs a similar company in Sydney and according to The NZ Herald is receiving money into his personal bank account from one of his collapsed companies that is owed to creditors-creditors like those above.

Yes Bryer's is free to go about his merry way like he always has.

Now I know about innocent until proven guilty and all that stuff but the evidence to support fraud committed by this individual is as clear as a Bernard Madoff Ponzi Scheme.

Bryer's has committed fraud, has ruined many lives and led some to commit suicide because of the financial position they have found themselves in because of Bryer's Blue Chip house of cards.

Why the hell have the Serious Fraud Office and the police let him free?

He is clearly a flight risk. Many fraudsters in the past have gone on the run and never been brought to justice.

He has committed very serious offences that if committed in other jurisdictions, say the United States for example, he would have been slapped in leg irons by now.

The law and the Serious Fraud Office have been found wanting over this particular rip-off and there have been many more finance companies, pyramid schemes, "financial advisers" and even main-stream banks that have so far been left off the hook.

This Mark Bryer's bastard needs to be brought to account, tried, convicted and sent to prison for at least 10 years.

Judging by our financial governing bodies modus operandi so far though it seems Bryer's and his filthy ilk could be walking free for some time to come.

That needs to change.

Related Share Investor Reading

Mark Bryer's at the top of a very shaky pyramid

Related Links

The tangled web of Blue Chip - New Zealand Herald in-depth look at Blue Chip Fraud


Recommended Amazon Reading

Forensic Accounting and Fraud Investigation for Non-Experts

Forensic Accounting and Fraud Investigation for Non-Experts by Howard Silverstone
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Fraud 101: Techniques and Strategies for Detection

Fraud 101: Techniques and Strategies for Detection by Howard Silverstone
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c Share Investor 2009