Media Release
Wednesday 24th February

EUFA (Exposing Unacceptable Financial Activities Inc Soc)
www.eufa.co.nz

Harcourt’s Real-Estate silenced by GE Money Law Firm over BlueChip

EUFA Coordinator Suzanne Edmonds wrote to the Minister of Commerce, Mr Simon Power and the previous Minister of Commerce, Ms Lianne Dalziel, today informing them of a further BlueChip fiasco.

A foreclosure document sent out by GE Moneys law firm to Harcourt’s demanded Harcourt’s keep the mortgagee details confidential.

In a letter to Harcourt’s from the Lawyers outlining the requirement it states at the end of the letter;

“Please note that our request for the above is to remain confidential. GE’s Position is not to be disclosed to anyone who may be interested in the property”.

GE Money has instructed their lawyers to complete a mortgagee sale of a property belonging to an elderly couple. The couple and family were involved with BlueChip. The elderly gentleman said today “To make ends meet we have moved our daughter into our home, they have rented out theirs and we are living in a workshop”.

EUFA spokeswoman Suzanne Edmonds commented “Non disclosure at this level of business shows the mess we are in as a country and it is time for Government action as our members are unable to defend themselves and this is a breach of their human rights”

EUFA members understood that the last Minister of Commerce, Ms Lianne Dalziel, was confident foreclosures would not take place. GE Money have ignored the Ministers public calls last year against such action.

The Lenders in the BlueChip scam may also be classed as victims in BlueChip yet are chasing the mortgages. They are clearly going for the deepest pockets - their fellow victims who own property

Government have blamed their non action on the fact BlueChip victims had contracts and that a Minister can not interfere. Many of the BlueChip mortgages were approved on loan documents and are allegedly fraudulent. According to advice given to EUFA members, mortgages and securities gained this way may be invalid and not recoverable in law.

ENDS

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