Wednesday 13 April 2011

Mark Hotchin welcomes the lifting of the suppression orders at the Rotorua District Court in respect to the Serious Fraud Office’s prosecution in 2004 of William and Margaret Papple and Tina West.

Naturally there will be a degree of media interest in my involvement as a prosecution (Serious Fraud Office) witness against William and Margaret Papple and Tina West. The lifting of the suppression order allows me an opportunity to now comment.

In 2004 I was approached about an investment opportunity in a personal capacity. It is very important to note that no funds from Hanover or its related companies were involved.

I was led to believe that our funds were going into an overseas investment vehicle, however I was clearly misled. The advice I received from a trusted acquaintance at the time subsequently proved to be flawed and unfortunately I was let down by the fraud perpetrated by the Papples and Ms West who I was told could be trusted.

Unfortunately alongside 120 other people, I lost money. I was happy to assist the Serious Fraud Office and gave evidence at the trial. My name was suppressed at the time because we wanted to protect Hanover and its investors because it was made in a personal capacity, not an investment made by Hanover.

ENDS

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