Is New Zealand a soft touch for corruption?

This morning I received an alert from the securities commission this alert related to two limited partnerships, Carrington Securities and Energy Securities LP of which Bernard WHIMP is general partner.

It appears that Whimp a  banned director has  found a way  round his ban by setting up limited partnerships.

I actually wonder why he did this as Lyne Pryor  who  pleaded guilty to fraudulently running a business and  was banned for 5 years   had an exemption in a jiffy  and went back to business as usual   see  Using the court to conceal corruption

But  Whimp  chose a different path and in  doing so makes a mockery of our   limited partnership structures .

I am currently  writing my first book how to  rip people  off  in New Zealand and get away with it the techniques are not intended for the  criminally  inclined  but  for  others  to  see  just how our system  runs  with  giant holes in it.- My objectives  to make the government look at  the need for verification  and accountability .

There are now calls to tighten legislation what amuses me  is that once again we are  driving more ambulances to the bottom of the  cliff.. for some people   these ambulances will take them on their last ride .

On the one hand we build fences for swimming pools to a degree  which  in some cases is over the top   yet with other things we totally ignore the fence at the top.  We don’t need more legislation  what we need is processes that work .

People respond to incentives.  In this weeks herald there was  the article Former ACC property boss escapes jail over bribe This shows just what the worst case scenario is for being caught out  with corruption   11 months at home  for  $160,000  … it is almost an incentive… bearing in mind that  he probably got a lot more and  $160,000 is all that could be proved.

Whimp has been an old hand at this , In  a 2004 article in the press he professes  I’m being unfairly picked on  , in that article it speaks of $5.4 million raised from investors and lost most of it  read more

For at least 7 years Whimp has  been ripping off the public  he can do this because there is no such thing as corruption in New Zealand   and the scary part is   that he is not alone.

At least a security warning has been issued    but I am sure its not the end of  it  a similar  scam was run by an Australian   a few years ago   and no doubt some one else will follow   in Whimps footsteps with yet another variation of the same plan .

Related news stories   Investors urged to spurn unsolicited offers for stocks Whimp nets $343,000 from Vector shareholders Bernard Whimp targets DNZ investors again



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