Blue chip founder has clear conscience

The man who founded failed property investment company Blue Chip, leaving hundreds of people millions out of pocket, says his conscience is clear.

Blue Chip invested in housing and property developments on behalf of individuals, some of whom are reported to have had to sell their own homes to meet mortgage repayments.

Meanwhile, founder Mark Bryers is worth an estimated $70 million, drives late model European cars and lives in a multi-million dollar home.

Tonight he told TVNZ's Sunday programme he was "extremely concerned" for the investors left struggling.

"(But) I don't believe I have done anything personally wrong," he said.

"My conscience is clear."

Mr Bryers has pledged $25m of his own money to help investors -- but only if the media leaves him alone.

"People have a choice, don't they. They either want Mark Bryers to help to the best of his ability, or you can actually just continually harass us and ask me to leave," he told the programme.

Jeff Meltzer, of Meltzer Mason Heath, has been appointed liquidator of companies related to Blue Chip.

However, it is expected to take 18 months to two years to unravel what had gone wrong -- and that will be too late for many investors.

NZPA