Blue Chip founder Bryers pleads guilty, faces fines

The co-founder of failed property development company Blue Chip, Mark Bryers, pleaded guilty through his lawyer to all remaining charges against him in Auckland District Court hearings today.

Bryers was excused from attending the hearing, and now faces a sentencing hearing which is likely to involve fines relating to his failing to keep proper accounts and records of Blue Chip's dealings before the company collapsed, leaving him bankrupt and owing as much as $173 million. 

While Bryers originally faced 135 charges, laid in February 2009 and mainly under the Financial Reporting Act, his pleas yesterday related to 31 remaining charges after some lost records turned up in his office, and plea bargaining saw a further 38 charges dropped. 

Now resident in Sydney, Bryers had previously plead guilty to another three charges. 

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

GEN - Completion of Purchase of Premium Funding Business
Fletcher Building Announces Executive Appointment
WCO - Director independence determination
AIA - welcomes Ngahuia Leighton as 'Future Director'
Mercury announces Executive team changes
Fonterra launches Retail Bond Offer
October 29th Morning Report
BIF adds Zincovery to its investment portfolio
General Capital Resignation of Director
General Capital subsidiary General Finance update