Property developer named in finance theft case

Paul Bublitz, one of the men facing charges filed by the Financial Markets Authority. Property developer Peter Chevin has also been named today as being part of the case. File photo / NZ Herald

A previously unnamed defendant in the latest failed finance company case is Auckland property developer Peter Chevin.

The Financial Markets Authority has filed Crimes Act and Companies Act charges against men allegedly associated with two failed firms, Viaduct Capital and Mutual Finance.

The companies went into receivership in 2010. At the time of receivership, Viaduct owed $7.8 million to investors and Mutual owed $9.3 million to investors.

The FMA announced in March that Paul Bublitz, Bruce McKay and Richard Blackwood - said to be associated with both Viaduct and Mutual - had been charged with theft by a person in special relationship, making false statements in a prospectus and making false statements to a trustee.

The market regulator said it had also charged Lance Morrison and Peter Chevin - said to be associated with Mutual only - with theft by a person and a special relationship and making false statements in a prospectus.

The FMA in March had indicated that Chevin may seek name suppression but this was not sought by his lawyer when the five defendants first appeared in the Auckland District Court today.

Chevin is a thrice-bankrupted Auckland property developer.

The five men were remanded on bail without plea by Judge Gerard Winter and are next due to appear on June 18.

Judge Winter said that the defendants were to provide prior written notice if they were to travel overseas and to keep in contact with their lawyers while away from New Zealand.

Another defendant originally charged in this case was Nick Wevers for his role at Viaduct and Mutual.

However, Wevers died shortly after charges were filed and so these were subsequently withdrawn.

Richard Holmes Blackwood of Blackwood Hawkins Law requested clarification that he is not the Richard Blackwood referred to here.