Millions still owed by Blackwell-linked finance company

NZF Money directors including Peter Huljich settled a case with the receiver in 2013. (Image: Supplied)

Tue, 07 May 2024

Receivers are still chasing millions owed to a collapsed finance company linked to incarcerated Blackwell Global founder Michael Chai. Michael Chai, or Kaw Sing Chai, was arrested in the Philippines in January. Chai, a former director and current shareholder of the New Zealand stock exchange (NZX) listed RTO, is alleged by Chinese authorities to have defrauded investors of about $100 million.Chinese authorities allege Chai used his NZ links and promises of high returns to entice investors to hand over millions, some of which he took...

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