Where’s Mark Bryers? With Waldo in AUS, of course.

September 4, 2008

The children’s game, “Where’s Waldo?” was a big hit with my kids a few years back. Here is a link to Waldo Wiki for some fun.

Otherwise, it appears from New Zealand’s One NEWS that the Blue Chip founder is somewhere in Australia (Blue Chip hope sparked by frozen funds).

Hundreds of Blue Chip investors across New Zealand have been given fresh hope that they might be able to recover millions of dollars worth of deposits for apartments they never wanted to buy.

The High Court has frozen funds in solicitors trust accounts until a full hearing takes place later this year…

We’ll wait and see if any cash actually surfaces from freezing the lawyer’s escrow accounts for the 2,000 seniors (mostly) who have lost over $84-million.

It does seem that Mr. Mark Bryers is keeping a pretty low profile these days. It appears that lawyers are having a hard time tracking him down in Australia to serve him with bankruptcy papers.

And what does one of the 2,000 investors [$1-million lost as a condition of re-locating to Britain] have to say about Bryers’s moving to Australia?.

“And now he’s off to Australia to do the same to people over there, I just – unbelievable,” says Blue Chip investor Michelle Hickman.

Altered loan documents, fraud and an agency relationship you say? Mrs. Hickman’s intrepid barrister Paul Dale:

“Certainly on the affidavit evidence we have filed to date, there has been fraud. We have produced examples of altered loan documents,” says Paul Dale the investors’ Barrister…

Dale says he has got powerful evidence of a profit sharing agreement between Greenstone and Blue Chip which would have seen money flow to Mark Bryers when apartment projects like this were completed.

Like I said before [Oz Alert: Shrewd businessmen immigrating], if you bump into Mr. Bryers or Bob Bangerter, let me know.

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Oz Alert: Shrewd businessmen immigrating

May 22, 2008

If you happen to bump into Bob Bangerter (left) or his fellow Blue Chip founder Mark Bryers (below) say hello for me.

I take Bob at his word: He is not, as some media outlets portray him, a rich old fiddler.

As far as the former lawyer Bob Bryers is concerned, a conviction for drunk driving (see Blue Chip’ Bryers blows the bag) and a divorce (see Blue Chip investors’ hopes fade) don’t seem to be slowing him down a bit.

It appears that Bryers is back in the real estate/franchising saddle but this time working full-time in Sydney, AU after becoming less popular in New Zealand (2,000 unhappy investors, $80-million losses).

Sydney property investment company Barkley Walsh says it is a subsidiary of ASX-listed Northern Crest Investments. Northern Crest was previously called Blue Chip Financial Solutions and is the parent company of many of the Blue Chip-related companies in liquidation in this country. Trading in its shares has been suspended since February.

To understand how franchising can be used to market over-priced assets AND dodge tiresome old real estate regulations, I recommend a very instructive article on http://www.stuff.co.nz called The Blue Chip Scandal: the valuations process.

Perfectly legal, I assure you.

Meanwhile back at the scene of the non-crime, the NZ Commerce Minister (a lawyer) continues to demean her office by publicly begging bottom-feeding finance companies to not collect on their perfectly legal Blue Chip mortgages.

This time on national radio.

BTW:

  1. Businesspeople will do what they can get away with to make a buck. That’s their job. If they don’t, they deserve to be fired.
  2. Everything is legal unless there is a specific statute to say it is illegal.
  3. The politicians’ job is to make sure legislation and enforcement are there so thousands are not impoverished by “aggressive capitalists”.

Don’t blame a leopard for having spots (see #1), fall for any excuse du jour why laws were castrated (see #2) or be confused as to the duty of this cabinet to its electorate (see #3).

This isn’t complicated, folks: A franchisor corporation is created. They recruit unsuspecting franchisees who are the only ones legally responsible for selling into a real estate bubble. The franchise system takes in the money and rapidly moves it to a related company. The franchise system (mask) is then killed off to sever legal liability to the principals and the cash.

SOP (standard operating procedure) in franchising, all around the world.


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