Former advisers charged over ponzi scheme
The Serious Fraud Office (SFO) has charged B'On Financial Services co-directors Michael Bradley and Jacqueline Bradley over allegations they defrauded 85 investors of more than $15 million.
Thursday, December 9th 2010, 2:16PM 
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The couple face 87 charges under the Crimes Act after an SFO investigation alleged the couple took investors' money to repay earlier investors and to fund their lifestyle.
SFO chief Adam Feeley said that while investors should be aware of the risks attached to any investment, "it is also reasonable that New Zealanders can expect that any investment scheme is run honestly, and that their money is used in the manner promised."
The SFO said clients who invested their money with the Bradley's "did not have their funds invested in any meaningful way."
The investigation identified over 85 investors, but the SFO said the charges relate to 24 investors in the period between 2003 and 2009 and comprise theft by a person required to account, theft by a person in a special relationship and dishonestly using a document.
The defendants were remanded on bail to appear on January 13.
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That's right, let us all take a deep breath, let's see who can hold it the longest without turning blue.
Have a Very Merry Christmas & Exciting Year Ahead.
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