Victim wants jail time for Mark Bryers

Bryers is due to jet in from Sydney for Thursday's hearing at Auckland District Court after pleading guilty in February to the charges laid by the Ministry of Economic Development. Now bankrupt and owing $173 million, his failed investment scheme cost 3000 Kiwi investors about $80m.

The New Zealand Herald
May 16, 2010

Victim wants jail time for Mark Bryers
David Fisher

MarkBryers.jpg

Mark Bryers. Photo / Doug Sherring

Mark Bryers this week faces sentencing for 31 offences related to the collapse of his Blue Chip empire - with one investor saying only jail will do.

Bryers is due to jet in from Sydney for Thursday's hearing at Auckland District Court after pleading guilty in February to the charges laid by the Ministry of Economic Development.

Now bankrupt and owing $173 million, his failed investment scheme cost 3000 Kiwi investors about $80m.

Jack Hoggard is among those planning to attend the hearing, and has prepared a victim impact statement for court.

Hoggard, who was contracted to sell Blue Chip properties, brought in 77 investors and played a role in bringing down the company. He said the financial toll on him and those he brought into the scheme was "horrendous".

And he was disappointed only one charge carried a possible prison term, with the rest punishable with fines of $5000 to $100,000.

"It's wet bus ticket material, really."

Full details of the charges were available for the first time this week after the Herald on Sunday obtained access to the court file.
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The charge for which he could be imprisoned related to him flying to Australia two days before he was legally obliged to face creditors in Auckland.

Other charges reveal director's responsibilities he failed to meet. They included failing to file accounts for companies as required by law and failing to complete financial statements.

By David Fisher | Email David

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10645256


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