EUFA
(Exposing Unacceptable Financial Activities)

Friday 6 April 2012

Bridgecorp - finally justice is done.

Investors who have heard the news that three former Bridgecorp directors were found guilty at the High Court in Auckland yesterday are elated, although still would like to see their money back.

Suzanne Edmonds, founder of EUFA (Exposing Unacceptable Financial Activities) said from Tauranga. “It’s great comfort to see justice being served in the whole mess of the finance company scams - especially Bridgecorp which hurt so many.......These Finance Company Directors have a lot to answer for the pain and suffering they have handed down through their utter greed.”

The small support group, EUFA was hurled into the spot light after holding a meeting for Bridgecorp investors when it went into receivership in 2007. Almost 5 years on a victory, in part, was reached yesterday for the investors. Getting money back is the ultimate victory for investors and while assets sit hidden investors will hold hope. Yesterdays verdict gives investors power. The Securities commission failed to protect investors when it knew Bridgecorp was not abiding by the law and issued an enforceable undertaking regarding advertising in August 2003.

Mrs Edmonds added “Investors will now be turning to the FMA to take the same lead as they have with Hanover with a civil case against Rod Petricevic and his merry men.

‘Follow the money and bring it back’ is what one investor said in a call to Mrs Edmonds.

Trusts, companies and assets that came to fruition via investors funds is now the challenge for the authorities to reclaim and return to investors.

ENDS

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