Thursday, February 2, 2012

Couple in spotlight as $12m vanishes - Serious Fraud Office - NZ Herald News -

Couple in spotlight as $12m vanishes - Serious Fraud Office - NZ Herald News -
The Serious Fraud Office is investigating the business of a
Remuera couple following the disappearance of around $12 million of investors' money.

Investigators have been unable to locate the money, following the collapse of the couple's
financial advisory business just before Christmas.

Mike and Jackie Bradley ran a business called Bradley & Bradley from an office in
Auckland's Vero Centre.

The Companies Office began investigations last year after complaints from investors,
and four firms jointly run by the couple were placed in liquidation on December 21.

They were B'On Financial Services, B'On Financial Services NZ,
Bradley O'Neill Financial Planners and Bradley O'Neill Financial Services.
Another company of which Mr Bradley is the sole director, Rosehip Nominees,
has also been placed in liquidation.

Liquidators Brian Mayo-Smith and David O'Connor, from BDO Auckland,
said they had been able to track down 36 investors, and feared there might be more.
Mr O'Connor said the average amount outstanding for each investor was around $300,000
but some had invested much more than that.

So far, the only assets the liquidators have been able to identify is a small amount of
office furniture.

Mr O'Connor said much of investors' money was said to have been invested overseas.
However, liquidators had been unable to find proper financial and accounting records.

Jackie Bradley claims to have been one of NZ's first professional financial advisers to
target female investors.

In 1988, she published a book called The Winning Woman under her maiden name,
Jackie O'Neill. She has also written articles on financial matters for magazines.

The couple, who are believed to be in their 50s, live in a large house in Bassett Rd,
Remuera, that was valued in 2008 at $4.7 million.

Two weeks ago, they set up a new company, Juniper Associates.
Its registered address is an accountancy firm in Newmarket.

Both are also directors of the Boston Mint, Clear Ways and Green Horizons firms,
and Mr Bradley is also a director of Frontier Water NZ, NZ Consultancy Group,
Pronostic Technologies and Pro-Perspirant.

Anyone who invested with the couple is being urged to contact James Greenway at
BDO Auckland.

Last night, Mrs Bradley denied there was any investigation and said the SFO had not
been in contact. She also denied that $12 million was unaccounted for and said
"funds are being repatriated to the country".

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