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The Commerce Commission is investigating Blue Chip after receiving investor complaints about the company laid by property consultant Olly Newland.
Nineteen companies associated with property investment firm Blue Chip have gone into liquidation, leaving about 2000 investors trying to work out how their millions of dollars have been affected.
The commission said it had received complaints that people may have invested in Blue Chip New Zealand based on false or misleading representations, and will examine documentation about the company.
The commission will also investigate whether there had been any breaches of the Fair Trading Act.
Mr Newland had laid a large number of complaints, a commission spokeswoman said.
Blue Chip's parent company, Australian-listed Blue Chip Financial Solutions, was suspended indefinitely from the Australian stock exchange last week, at the request of the company.
- NZPA
