Securities Commission sleeps, while Strategic Finance dines on investors

On December 16th 2009 New Zealand’s House of Representatives was advised that Strategic Finance had misled its investors in order to gain votes from investors to agree to a moratorium.

A fabrication to buy time to avoid prosecution and to hide funds in private trusts etc.

John Boscawen MP tabled documents in the House of Representatives on 16th December 2009 that prove that directors of Strategic Finance had formally presented investors with false financial information.

A crime in this country.

Mr. Boscawen recommended to the House that Strategic Finance should be immediately placed into Statutory Management to protect any remaining investor funds.

However for statutory management to be invoked the Securities Commission must first advise the Minister to do so.

This of course did not occur.

The result is that the Head of Strategic Finance has continued to draw $10,000 a week from the investors money, while the phony financial figures he and his mates had cooked up led the company into an inevitable receivership.

With such blatant abdication of the States duty to uphold the law, the Government has a lot of gall to expect the public to believe their posturing over improved protection for the investing public from an inherently crooked finance industry.

They have seen the evidence of the crime, but choose to look the other way.

Is that not also a crime in this country?

Contact
Suzanne Edmonds
0274476976