Blue Chip Investors meet in Tauranga.

Answering the call for a demonstration of “people power” 250 plus Tauranga people, mainly distraught investors affected by the liquidation of Blue Chip associated companies attended a meeting convened by the EUFA group held in Tauranga today.



The meeting was attended by representatives of the Serious Fraud Office and the Liquidators involved, however EUFA founder Suzanne Edmonds was very disappointed in the Commerce Commission failing to attend as invited. “We can’t help but wonder if the Commerce Commission understands the magnitude of this issue” Suzanne Edmonds said after the meeting.



Once again it has been publicly exposed that while some investors are flocking to lawyers the hard fact is that many others are facing such dire circumstances that this option is neither financially nor emotionally possible for them.



One Lawyer present told Suzanne Edmonds that he was “shattered by the level of personal pain and suffering” he had witnessed at the meeting.



The structure of the Blue Chip investments has exposed many individuals to a raft of questionable (so called) professional advice, which has led many into committing their homes as security to fund dodgy Blue Chip deals.



It has been constantly exposed through the media and investor meetings that Blue Chip commission paid advisers, lawyers, valuers and accountants have convinced individual investors into taking up finance products developed by their Bank specifically to fund Blue Chip styled property investments.



EUFA finance spokesman Gray Eatwell has warned that as many Blue Chip projects were pivotal upon bank products specifically designed to fund Blue Chip investments being promoted to individual bank customers that the Banks involved must exercise extreme caution in dealing with these accounts.



Given the gravity of the hardship individual investors have suffered from what have been exposed as very questionable financial practices, EUFA will continue to call on Government and its agencies to urgently provide the protection that all individuals are entitled to under common law in New Zealand. Ends.