Failed bullion company investors unlikely to get payout - Business - NZ Herald News
Investors who put more than $2.5 million into a failed bullion
trading firm are unlikely to get any money back, says a report by the
liquidator.
Grace Holdings NZ - which ran the Bullion Buyer website - was placed
into liquidation in February after investors raised concerns with the
Serious Fraud Office about their funds.
Yesterday liquidator Grant Reynolds said 36 investors, who claim they are owed $2.68 million, were unlikely to see any return.
There was only $52,000 left in the company's bank accounts and an
unsecured creditor owed almost $30,000 would also not be paid.
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