SFO looks into Blue Chip investment scheme

The Serious Fraud Office is looking into property investment business Blue Chip and asking for investors who have information to phone a call-free service.

Grant Liddell, the SFO’s new director and chief executive, said staff had been investigating the business for more than a week. Investigations began last Wednesday, based on complaints made to the office.

Last week 19 companies associated with the Blue Chip structured property investment scheme went into liquidation.

The SFO’s involvement follows interest from another regulator.

On Tuesday, the Commerce Commission said it would investigate whether property investment companies had used false or misleading information to entice investors.

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