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Blue Chip Co-founder To Face 100 Fraud Charges

Fuseworks Media
Fuseworks Media
Mark Bryers
Mark Bryers

Auckland, Feb 21 NZPA - Mark Bryers, co-founder of the collapsed property investment company Blue Chip, is facing more than 100 fraud charges.

Bryers was expected to appear in Auckland District Court next month after a six-month investigation by the Registrar of Companies into the $80 million failure of Blue Chip which left hundreds of investors out of pocket, The New Zealand Herald reported.

It said the Companies Office had confirmed the charges had been laid but documents had yet to be served on Bryers.

The charges of allegedly breaching the Companies Act follow the inquiry into about 30 firms associated with Blue Chip.

Some charges were understood to allege Blue Chip made false or misleading statements to the Registrar of Companies while others related to the lack of financial books and records for Blue Chip companies.

Further charges were likely to be laid against other Blue Chip directors.

Bryers, 51, who is currently living in Sydney, is due to appear in Auckland District Court next week on charges relating to his management of the luxury Swordfish Lodge resort on the Whangaparaoa Peninsula, north of Auckland city.

The Serious Fraud Office and Commerce Commission are also investigating Blue Chip.

Blue Chip invested in housing and property developments on behalf of individuals.

Last year Bryers was worth an estimated $70 million and said although he was "extremely concerned" for the investors left struggling, he did not believe he had done anything "personally wrong.

"My conscience is clear," he said.

NZPA AKL is dj

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