Mark Bryers. Photo / Dean Purcell
A warrant has been issued for the arrest of Blue Chip's Mark Bryers for non-payment of a fine.
Bryers, who was bankrupted in October 2009 owing personal creditors $230 million, is now living in Australia.
Last May, he was convicted on 34 book-keeping and record-keeping charges as well as failing
to attend a creditors' meeting.
He was sentenced to 75 hours' community work and fined $37,500.
He has completed his work term but the Weekend Herald reported on Saturday that he had not paid the fine or made any arrangement to do so.
A Justice Ministry spokesman said yesterday: "A warrant for Mr Bryers' arrest has been issued by a registrar to have him brought before the court."
Inspector Ian Brooker of Auckland police said the Immigration Service was told of such warrants for action when the person returned to NZ.
At the time Bryers was sentenced, he indicated to the court that he was able to pay a fine. He was living in an upmarket apartment in Sydney paid for by the last surviving Blue Chip company, now called Northern Crest Investments. The firm, which appears to be involved in property investment, was paying him up to $12,000 a month in consultancy fees.
Sentencing judge Chris Field described Bryers' offences as "an egregious lapse of duty", and Deputy Registrar of Companies Peter Barker recommended he be banned as a director for the maximum five years.
Mr Barker said the failings of Bryers - who studied law and accounting at university - appeared to be a "wilful disregard of his duties" and "akin to captaining a passenger ferry through Cook Strait without maps and a compass".
Blue Chip collapsed in 2008, owing 3000 investors $80 million.
In a statement issued after he was sentenced, Bryers apologised to Blue Chip investors and said - without providing details - that he had put a scheme in place to compensate them.
"My resolve to set up and deliver compensation to those former clients is absolute. While it will take some time, I will deliver on that promise."
