MEDIA RELEASE: 22 April 2009
EUFA (Exposing Unacceptable Financial Activities Inc Soc)
New Zealand Authorities way behind the eight ball.
In March this year, American Bernard Madoff pleaded guilty to serious fraud charges after operating a sophisticated
Ponzi type scam. Mr Madoff mixed in very high circles and was influential in governing circles, sneaking under their
radar.
Reportedly this week at a court hearing in the US a Judge said that “disjointed and uncoordinated” activities by
authorities over Madoff’s had occurred.
Another Judge has blocked the transfer of personal wealth and assets of Madoff as they maybe subject to forfeiture.
In discussions with the former Minister of Commerce, Ms Dalziel, early in 2008, EUFA members asked for an inquiry into
the finance company collapse. The Minister responded by stating “There are Inquiries happening everywhere.” The ongoing
disjointed processes [inquiries/investigations] by New Zealand authorities and other independently involved parties
continue to be uncoordinated.
The need for a Royal Commission of Inquiry of the finance company crisis in New Zealand is reinforced by the
complexities of the American case.
EUFA coordinator Suzanne Edmonds accuses New Zealand Authorities of negligence for failing to take speedy action over
personal assets of failed finance companies and Bluechip directors.
BlueChip founder Mark Bryers continues his lavish lifestyle at the Rocks in Sydney and reportedly is running a business
model identical to Bluechip.
EUFA have continuously called for freezing of assets of Finance Company Directors, while Serious Fraud office and other
authorities are holding investigations.
Coordinator of EUFA Suzanne Edmonds said today “It is very frustrating for affected New Zealanders in that authorities
are running disjointed and uncoordinated processes....... for this reason we need leadership through a Royal Commission
of Inquiry to untangle the massive web of deceit ”
The American court ruling has coincidently occurred in the same week the well publicised Bartle/Bluechip case is being
held in the High Court in Auckland.
EUFA
(Exposing Unacceptable Financial Activities Inc Soc)
ENDS