By ANNE-MARIE EMERSON
WANGANUI "mum and dad" investors are among those who stand to lose substantial amounts of money from the liquidation of Blue Chip-related companies.
Nineteen companies associated with Blue Chip's New Zealand francishee Diem Ltd have gone into liquidation in the past two days, putting the financial futures of thousands
of investors throughout New Zealand at risk.
Wanganui company Stoneman Financial Investments has offered assistance to a group of 22 investors in the Whanganui-Manawatu-Taranaki regions, including nine in Wanganui.
Mark Stoneman of Stoneman Financial Investments said the group was acting as a collective to get "a better result".
"It's strength in numbers.
"We're giving the name and addresses of the investors to the liquidators, and hopefully they can track down the money."
The investments in the Blue Chip companies fell into three categories: vendor companies selling properties to investors, property management companies, and letting and leasing companies.
Mr Stoneman said those who had invested in property management companies and leasing and letting companies were owed rent of up to $2000.
Some had not received any rent from their properties since October.
He said those who had invested in properties were the worst off, because they had paid down deposits of between $85,000 and $190,000 for properties in Auckland.
One Wanganui man, who did not wish to be named, deposited $187,000 through Blue Sky Holdings, for an apartment in Auckland.
Blue Sky Holdings has not been put into liquidation yet, although the man was not hopeful he would see his money again.
"The money is safe for now, but the future is uncertain.
"I'm very worried - I could lose everything."
The man, who is in his early 60s, said he was not "some greedy property investor" he was an ordinary person who was trying to secure his future.
Liquidator Jeff Meltzer said the task of liquidating the companies was daunting, with so much money and so many different companies involved.
"We're still trying to understand what they are, who, where and what they are all about."
Mr Meltzer said neither Diem Ltd nor Blue Chip Financial Solutions Ltd, its Australian-listed parent company, had gone into liquidation; although Blue Chip requested a halt to share trading on Wednesday.
As for the Wanganui investor, if he gets his money back he won't be investing it again.
"I'll put it straight in the bank.
"I would advise anyone not to get involved in this sort of investment. It's not worth it."
