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Van Eyk offices searched

Van Eyk’s offices in Sydney have reportedly been raided by the Australian regulator.

Thursday, September 25th 2014, 7:18PM 1 Comment

The action is part of an investigation on both sides of the Tasman into the actions of the company.

Van Eyk has been placed into liquidation after four of its Blueprint funds, invested in an illiquid assets, were frozen.

The FMA had previously told Good Returns it was working with the Australian regulator, ASIC, and looking at the implications for Van Eyk’s NZ-based entities.

Spokesman Andrew Park said: "The FMA is liaising with ASIC and making its own inquiries into the Van Eyk and Blueprint funds. We are particularly concerned about conduct issues in NZ and where these issues impact NZ investors."

The Van Eyk offices are believed to have been searched twice – as recently as this Tuesday.

Responsible entity Macquarie may face class action over its role in Van Eyk’s collapse.

Whether Macquarie engaged in deceptive handling when dealing with the illiquid investment is being assessed. The illiquid investment is believed to relate to a property development linked to people involved in the scheme’s underlying manager, Artefact.

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Comments from our readers

On 26 September 2014 at 7:24 am Pragmatic said:
This is an extraordinarily bad look for the financial services industry.

Whilst I hope that nothing sinister has occurred, much of the public damage has been done

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