Sunday, September 20, 2009

And Not Before Time

Adolf knows the rooster behind this particular episode and no doubt commenter pdm will know him.

The gentleman whose gold bracelets and faux bonhomie is exceeded only by his ability to bullshit at last has been brought to book. He was one of many life brokers who saw an opportunity to recycle their clients' funds by directing them into the lucrative property investment market where potential commissions vastly exceeded those to be derived by leaving them in their relatively safe conservative managed funds, for which they had already been paid generous commissions. Most of them became key supporters of BlueChip.

It remains to be seen whether he can stump up with the $250k.

Adolf would love to be a fly on the wall at the meeting with the bank manager to discuss his loan application.


pdm said...

Yes I know him well Adolf.

showmethetaxcut said...

I know the character behind this enterprise as well - a well known Hawkes Bay personality.

Why the reticience about naming him? I mean he has put the first initials of his name to all his business entities.

pdm said...

Adolf have you read the article in HBToday - sorry I cannot link to it. He is actually named in the article but his Barrister said he was not the Adviser involved.

showmethetaxcut said...

Front page article in Hawkes Bay Today:

"He (VPFS's lawyer (Phillip Ross) was commenting after Hawkes Bay Today was referred to him by VPFS principal Ven Plummer....."

"Mr Ross said Mr Plummer had been open about the situation and did not "hide"."

Anonymous said...

Pole.Tar. and Feathers for Vern would be too good.
Good to see they are starting to round up the corrupt greedy and stupid "advisors". About time.
Having interviewed over 100 Blue Chip "victims", universally the "advisors" are fucking bunnies with no idea who did it pure and simply for the fees.

alex Masterley said...

Sadly, only the company was sued. As it is by now mostly an empty shell the judgment will at best be phyrric.
Also I doubt that the decision will be of any use to anyone as it was made on the papers by the judge after the defendant's counsel withdrew.