A Broken System That Betrays Investors
As a candidate in this election, I cannot stand by while New Zealand’s wholesale investment framework continues to let investors down.
Today, fund managers who manage millions of dollars are not even required to prove they are fit and proper persons. Worse still, when investors suffer devastating losses, regulators tell them to go to the Police or the SFO – and those agencies then say the matters don’t “meet the threshold.” The result is a revolving door of inaction, leaving victims abandoned.
This is not regulation – This is neglect.
The Human Cost of Regulatory Failure
Let’s be clear: this isn’t theory – it is happening right now.
• Black Robin Equity collapsed, leaving investors with devastating losses; some lost over $1 million.
• Senior Trust Capital is under FMA investigation and winding down. Investors have been told it could take up to 10 years to get their money back, if at all.
• Du Val Group was placed into statutory management, with regulators pouring energy and taxpayer dollars into that single case. Yet by focusing almost entirely on Du Val, they have left some of the worst wholesale operators in the market untouched – free to continue ripping off Kiwi investors.
• Right here in Pukekohe, a fund operated by a questionable financier with a long history of failed finance companies and his partner, a chartered accountant from the Waikato, declared in October last year that a Māori trust board’s $1.8 million investment was “lost.” Instead of accountability, they attacked the trust’s CEO, victim-shamed the board, and forced the victims into the High Court to fight for justice. They know the court system is broken – they know it will take years before the victims even get a hearing. And when they are finally held to account, they rise like a phoenix, launching new fund brands under different names to hide their trail.
This is exactly the type of behaviour that Minister Andrew Bayly once said he would stamp out – phoenix directors creating new fronts to dodge accountability. But it isn’t happening. These operators continue to appear, ripping off our families and destroying victims with intimidation and victim shaming.
This is a textbook example of Ponzi-style schemes operating unchecked in our financial markets.
How Victims Are Silenced?
Unsophisticated investors, community trusts, and Māori boards are deliberately targeted because they are less likely to go public if they lose money – fearing ridicule in the market and in the media. When they do speak up, they are attacked and defamed by the very fund managers who misled them.
This isn’t just financial abuse – Its intimidation designed to silence victims.
My Commitment to Change
I will fight to regulate the regulators and put an end to this culture of impunity. My plan includes:
1. Licensing Wholesale Fund Managers – every manager must be licensed by the FMA and pass a fit and proper test.
2. Automatic Investigations – any complaint involving a loss over $50,000 must trigger an investigation, no excuses.
3. Protecting Vulnerable Investors – special support for Māori trusts, community investors, and unsophisticated investors; legal protections against victim shaming and intimidation.
4. Accountability of Agencies – the FMA, SFO, Companies Office, and Police must report annually to Parliament on the complaints they receive, what actions they took, and why.
Final Word
“I will hold fund managers to account. I will hold regulators to account. And I will fight for the thousands of ordinary New Zealanders – right here in this constituency – who deserve protection from predators in suits. Next week, I will be naming the Pukekohe party responsible. The only way to get rid of this infectious material is to shine light on it and disinfect it – so it stops happening to any more victims. We cannot wait for the next collapse. We must act now.”
Vote for Accountability • Vote for Change • Vote 6 September 2025











