Blue Chip directors haven’t yet escaped threat of criminal charges as FMA awaits investor suits

Thu, 28 Mar 2013

By Paul McBeth March 28 (BusinessDesk) - The Financial Markets Authority says directors of the failed Blue Chip property investment group may yet face criminal charges as the regulator awaits the outcome of two lawsuits brought by investors. The FMA has been reviewing the case after a Supreme Court decision last year agreed with a group of investors that Blue Chip's investment scheme marketing between 2005 and 2007 was an offering of securities to the public in terms of the Securities Act 1978 and required a prospectus. The market watchdog...

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