17 Feb 2011

Arrest warrant for Blue Chip founder

6:01 pm on 17 February 2011

An arrest warrant has been issued for the founder of failed property investment company Blue Chip over an unpaid fine.

Mark Bryer's high-profile company collapsed in 2008 owing at least 2000 investors more than $84 million.

In May last year, Bryers was sentenced to community service and ordered to pay fines of $37,500 for offences under the Companies Act and the Financial Reporting Act.

The Ministry of Justice says Bryers, who lives in Australia, made some payment towards the fine but then stopped.

It says the courts do not have the jurisdiction to follow him overseas, but if he tries to return to New Zealand an alert will be triggered at the airport.

Rotorua man Ray Hawira, whose family invested about $2.2 million, says he would like to see Bryers extradited.

Mr Hawira says he knows there is not a lot the system can do, but his family needs to move on.

Bruce and Judy Bartle, of Whangarei, are struggling to keep their home after investing with Blue Chip and belive the arrest warrant will help warn Australian residents about Bryers.

Mr Bartle says Bryers is callous and has brought grief to many people.