A banned company director has recently targeted a number of New Zealanders with threats of legal proceedings being issued against them if they don’t follow his demands – an action described by a promiment business leader today as appalling. Having targeted his ‘victims’ over Christmas in a manner that must have outraged authorities in the National Enforcement Unit (NEU) of the Ministry of Economic Development (MED), who banned him from operating as a company director, a ban that includes last year and this year; he has now resorted to whimpish bully-boy tactics – the sign perhaps of a very desperate man. Having attempted to hide his identity from his victims – by initially approaching them seeking pecuniary gain under another person’s name(s) – he was outed by authorities as a banned company director with a criminal conviction.
The Society is asking how any such banned director can continue to be allowed to operate in this seemingly whimpish and delusional manner, when it is clear that he may be out of control and possibly paranoid (e.g. hiding his identity in scam communications etc.). Any failure to reign in such banned company directors – who are seemingly hell-bent on pursuing ‘business as usual’ – involving ‘entrepreneurial scam enterprises’ aimed at fleecing the public, despite a banning order, is of real concern to the Society.
Fortunately the NEU has shown itself capable of laying charges in the Courts against such reckless banned directors in the past: scam artists, who treat the law with total disdain. Upholding “good community standards” in its broadest sense of the words, is one of the roles of the NEU, the MED, the Commerce Commission, the Securities Commission and other such enforcement agencies.
These agencies should be commended by the public when they take decisive and effective action against banned company directors, if and when they break the law. There is injury to the “public good” when banned directors are not reigned in and held accountable under the law for what are viewed by many as their engaging in nefarious white-collar crime activities.
This posting was prompted by information passed on to the Society. See also:
Whimps’s threatening letter to shareholders appals Vector boss
Bernard Terence Whimp was banned as a company director under sction 382(1) of the Companies Act 1993 from 19 April 2007 to 19 April 2012. See List of disqualified company directors www.companies.govt.nz