Memorial to Mark Hotchin's father stolen

Photo / Supplied

Embattled financier Mark Hotchin has lashed out at "mindless persecution" of his family after the theft of a memorial to his late father.

The Lloyd Hotchin memorial was stolen after a Sunday newspaper showed it sited next to the first green on the Dunes golf course at Matarangi on the Coromandel Peninsula.

Older family members had been hurt and distressed by the theft, said Mr Hotchin - the former director of failed finance company Hanover.

They have also endured break-ins, vandalism and harassment by some "pretty sick" people because their name is Hotchin, he said.

"This is the latest event in a series of cowardly acts against both my immediate relations and the wider family.

"Enough is enough. People can say or think whatever they like about me but the mindless persecution of my family must stop.

"They and my late father have done nothing to deserve this kind of cruel treatment.

"What kind of people desecrate a memorial to a man who died several years ago and did only good in his local community?"

Hanover Finance and its associate, United Finance, froze $554 million of investors' funds in 2008.

Mr Hotchin has faced public criticism for living in luxury after the destruction of investors' wealth that occurred.

He is being investigated by the Securities Commission and the Serious Fraud Office for his role as director of the company and has admitted he may face charges.

But he blamed the theft of his father's memorial on a witch-hunt whipped up by media scrutiny.

"I have repeatedly apologised to Hanover investors for the failure of the business and any losses they have sustained because of it. However, intense media scrutiny of my life, much of which contains false or misleading information, has led to a mood in some quarters bordering on hysteria".

"Thanks to that kind of witch-hunt some people obviously think they have the right to inflict pain on the children and the elderly who comprise our wider family."

Mr Hotchin appealed to those who stole the memorial to show some decency and put it back."

Mr Hotchin's accusations came just hours before his younger brother was sentenced on three counts of breaching the Securities Act.

Former Nathans Finance director John Hotchin pleaded guilty to making untrue statements about the quality of company's loan book, loan management practices and its management of liquidity.

He avoided jail, instead receiving 11 months home detention, 200 hours community service and an order to pay reparations of $200,000.

"I recognise that I let Nathans' investors down and I accept the Court's sentence," Mr Hotchin said.

- NZHERALD STAFF