Any views about BlueChip NZ

[tim23]

Minimoke - you have Creech, Jefferies, Graham & Luxton and Labour have who?

[CJ]

NZ HERALD wyait creach and luxton new as far back as 2006 that blue chip was was run by possible fruadstar and fellow national party member bryers BUT FOR THE BEST INTERST OF THE COMPANY AND THEIR NATIONAL PARTY MATES RESIGNED QUIETLY AND COST OVER 3000 OTHIER INVESTORS THIER LIFE SAVINGS . JOHN KEY MONEY SHAFTER YOU WILL FIND OUT LATER ALSO INVOLVED TRUST BLUECHIP/ TRUST NATIONAL

Their duty was to Shareholders not investors. They raised their concerns and when they weren't listened to, left. When a high profile director elected to give a company credibility resigns, that should beg a few questions.

PS. I actually find it EASIER to read the stuff you DONT emphasis!

[minimoke]

Minimoke - you have Creech, Jefferies, Graham & Luxton and Labour have who?

Hmm where do I start – Which Labour Ministers were responsible for sinking the AIA sale. Shareholders included Mums and Dads and Ratepayers and citizens of local councils. They weren’t just shafted – they got a right roggering!

I’d cut and paste links to the numerous threads and blogs on this board which suggest people have been shafted- but frankly I can’t be bothered. The next election will show around half the population won’t mind being shafted by Labour with the other half ready to be shafted by National.

[COLIN]

Minimoke - you have Creech, Jefferies, Graham & Luxton and Labour have who?

For the record, wasn't Jefferies a Labourite?

[tim23]

Colin, my error I think you are correct!

[tim23]

PS i reckon John Key will pop up on a board or 2 in 2009 after he quits politics!

[tim23]

Thanks; I withdraw my apology in that case!

[patsy]

A couple of property "investors" (a.k.a. property morons) in Blue Chip were interviewed last night in National Radio. They said that there were about to lose their own home and both used the usual catchphrase "... for no fault of our own..." as if trying to justify the need for a handout from the taxpayer.

Although we should feel sorry for these old people who lost their life savings, I cannot help but think that they still have absolutely no bl*ody idea of what has happened or why. They still believe that they were "victims" of the Blue Chip collapse - and that they had no role to play in losing their own money. As if those that invested 100% of their savings in dot.bomb vapourware companies were unwitting victims of the Nasdaq collapse.

The level of financial illiteracy of the NZ commons is hard to believe.

[Steve]

The level of financial illiteracy of the NZ commons is hard to believe.

There have been noises about adding such a thing to the NCEA curriculum, which would be a good start with regards to future generations...

[Steve]

The warning flags were already raised in a 2005 Independent Report for those who bothered to take the time to read it.

If they had read it, they would have known where their 'missing' deposits were going...

Blue Chip raised eyebrows in 2005
Blue Chip Financial Solutions advanced "substantial" deposits from investors to a company owned by the property scheme's co-founder Mark Bryers, a 2005 independent report says.

The PricewaterhouseCoopers appraisal report, written for Blue Chip as it considered buying several companies from Bryers, said as at June 2005 the "vast majority" of these deposits were advanced on an unsecured basis to Bryers' property development company Ingot Holdings.

Thousands of Blue Chip investors are owed an estimated $84 million after the collapse of the investment scheme. Many paid out large deposits on apartment developments that never proceeded, and have no idea what became of those original investments.