EUFA

(Exposing Unacceptable Financial Activities)
www.eufa.co.nz
 

18 February 2011

Statement 

Hotchins sorry to the nation feeble
 

A  Claytons sorry - Sorry when you don’t show you are sorry

The Close up show has demonstrated to New Zealand that if you cripple people with your greed and highflying business practices you can get prime time TV and say “sorry” in a bid to be forgiven, in an attempt to gain public support.

True “Sorry” to investors would equate to all Hotchins frozen assets being returned to Hanover investors, giving  Mr Hotchin the opportunity to start again if the pot were  dry. 

Real New Zealanders saved for their retirement lost these savings to help build a $33m “vanity” home and a multimillion dollar lifestyle. Mr Hotchin stated he began building his home (that doesn’t belong to him) when he was rich, 5 years ago.  It is most likely  the wealth was false wealth and sourced through the seriously flawed finance model, that created false profit, using investors deposits.  

Suzanne Edmonds says; “On Close Up, my impression was Mr Hotchin was attempting to make New Zealand  believe he was once rich and then there was Hanover. Director’s responsibility is a key issue that must be fully investigated by the various authorities before anyone can take Mr Hotchins bid to say  “sorry” seriously.”

Mr Hotchin blames the media for false reporting.  NZ investors appreciate the media for keeping them informed.   Mr Hotchin is not suing the newspapers who reported his wife incorrectly because he intimated he could not afford to due to his assets/funds being frozen.  Most Investors are in the same position; they can’t afford to sue Mr Hotchin or the Government Authorities for negligence etc.

Suzanne Edmonds added; “ The finance industry has blood on its hands and a public apology by this player in the game is just another insult to the injured”

Mr Hotchin confirmed on live television the Securities Commission are investigating all finance companies.

http://www.voxy.co.nz/national/transcript-close-interview-hanover039s-mark-hotchin/5/82333

http://www.voxy.co.nz/business/transcript-hanover039s-mark-hotchin-interview-amp-business/5/82336

http://www.facebook.com/#!/notes/keeping-stock/far-too-little-far-too-late/10150096584017034 

 ends

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