” …a sense in which Andrew Little is responsible is that he has been part of a campaign of deliberate lies… It is very sad that an opposition party would [behave] so dishonestly…”
Given John Key’s entire tenure as prime minister is built on lies, this from Matthew Hooton over at The Dimpost’s comment section is somewhat ironic, and insulting.
In October 2008 as the then opposition leader, Key maintained his 1991 statement to the Serious Fraud Office investigation into failed corporate high-flier Equiticorp and it’s fraudulent H-Fee transactions with Australian corporate giant Elders IXL, was accurate. But his well documented relationship with infamous New York based Bankers Trust currency raider Andrew Krieger says otherwise.
We know Key worked with Krieger, this was confirmed in great detail by hi Bankers Trust boss Gavin Walker* in February 2008. Telling media Key knew everything Krieger was executing across the Auckland Bankers Trust’s branch’s trading desk; indeed looking after Krieger was part of Key’s job description. Key himself has said he can still recall his first phone call with the trader, saying Krieger asked him about New Zealand’s GDP and it’s monetary supply.
We can also be sure Key was at his previous firm Elders Merchant Finance on 17 August 1987, as he filmed for Close Up’s “Big Dealers” episode on that day. What we know of Krieger is that he resigned from Bankers Trust on 23 February 1988. His resignation is well documented, having been reported in the New York Times, the Wall Street Journal, and later in Krieger’s own book, ‘The Money Bazaar’.
To have worked with Krieger, which there is no doubt, Key needed to have left Elders Merchant Finance to start with Bankers Trust sometime after 17 August 1987 but before Krieger’s 23 February 1988 resignation date.
Therefore Key’s statement to the Equiticorp inquiry in which he told investigators he left Elders Merchant Finance for Bankers Trust on 31 August 1988 can only be a lie. His insistence to voters in October 2008 that his statement was entirely accurate can only be another one.
Lying to an SFO investigation carries a maximum $15,000 fine or twelve months jail, more for conspiring to mislead, and I think any investigation would find that’s exactly what Key (and his ex-Elders colleague Paul Richards**) did.
Time to go John.
* Gavin Walker, current Chair, Board of Guardians of New Zealand Superfund
** Paul Richards, current head of Foreign Exchange Distribution, UBS, North America
Key stating he’s the one standing up for the victims of crime. Like he did when he lied to the 1990’s Serious Fraud Office investigation into failed corporate Equiticorp? Whose execs defrauded 55,000 shareholders of over $400 million? An investigation he was happy to mislead to help out his friend who was facing charges for facilitating $40 odd million of that fraud?
Yeah victims, Key rarely cares about them.
“Except white collar crime, if it’s white collar crime then I’m probably comfortable with it”
Which of these currency traders turned politicians lied to a 1990’s joint Oz & NZ investigation into corporate fraud?
Which of these currency traders turned politicians lied to a 1990’s joint Australia & New Zealand investigation into corporate fraud?
More info in the links below:
I wrote yesterday about how well documented it is that Prime Minister of New Zealand John Key worked with currency trader Andrew Krieger while they were both at Bankers Trust in the mid 1980s.
A week before the 2008 election, a 1991 statement Key gave to the then new established Serious Fraud Office surfaced. In it we learned Key had told investigators he could recall a date crucial to the investigation because it was the same date as his last day with Elders Merchant Finance – he was going to Auckland to take a position with Bankers Trust – this is supposedly the time when he started with Krieger. Except this timeframe is an impossibility. Krieger resigned from Bankers Trust some six months before the date in question.
Key has either lied to media when they were doing background bios on him in 2008 about working with Krieger, or, and more likely, Key conspired to lie to the Serious Fraud Office to assist his ex Elders colleague Paul Richards who was facing fraud charges.
Gavin Walker who was Key’s boss at Bankers Trust, talked at length with media in 2008 about the relationship Key had with Krieger, going so far as to say managing that relationship was more or less in Key’s job description. Walker is now Chair of the Board of Guardians of the New Zealand Super Fund. Did he lie to media about Key working with Krieger? Because lying and misleading is the implication if Key maintains his SFO statement is true and correct – as he did in the lead up to the 2008 General Election.
As for Richards, he soon followed Key to Bankers Trust and may or may not have been still working there when he was first interviewed by the SFO in November 1990. If he was, did he and Key conspire to the mislead the SFO investigators? Constructing an elaborate back story of a ‘farewell lunch’ that never took place? The date of this lunch conflicted with the recollections of Richard’s co-accused. Richards is now head of UBS Head of FX Distribution in the US. He is a regular finance and foreign exchange commentator on television and news in the US and is a current and past (2012) member of the Foreign Exchange Committee of the New York Federal Reserve.
For the record, the investigation all those years ago was into the failed high flying company Equiticorp. Over 55,000 shareholders were defrauded of over $400 million, of which the would be New Zealand PM was willing to lie to investigators to protect his friend and colleague who had helped commit $67 million of that fraud.
A week before the 2008 election Key was asked about his statement and assured Radio New Zealand listens he did not lie to the SFO, maintaining his statement was 100% true and correct and claimed any talk of the contrary was nothing but left wing smears, attack politics from desperate opponents.
Today opposition leader, Labour’s Andrew Little called Key a liar over the PM’s knowledge of ex-Northland MP Mike Sabin’s police investigation – add another lie to Key’s growing pile of untruths and obfuscations but I think Key’s 1991 SFO statement may be his longest standing and most damaging lie yet.
As a nation drowned in it’s PM’s lies
Sons & daughters were sent to die
Meanwhile at home democracy cried
But his government crowed
Other peoples’ children signed up for his war
While at home in comfort he called for more
For bodies were needed to feed it all
Media cried out loud
War! War! War!
When history writes upon his tomb
Will it reflect the pain of those who knew
His government’s ways were all too true
Of right rich Tories
Through and through.
See it’s easy to trade bodies for war
Free trade and a handshake and little more
So beware this terrorist at the door
For the Tory bastard
Should be feared by all.
Inspired by @Btripstheworld
After only a few years in parliament, a relative newcomer to politics, John Philip Key became the leader of the National party of New Zealand. He was subsequently elected the Prime Minister of New Zealand on 8 November 2008 and three years later re-elected, today he is beginning his third term. Many questions about this man remain unanswered and this blog in part is in response to those questions.
In August 2007 he told the New Zealand Herald he had left Elders Merchant Finance in 1987. The following year documentation from a 1990s Serious Fraud Office (SFO) investigation into a failed group of companies revealed he had told investigators in 1991 that he had left Elders 1988.
He was soon telling media he simply had his dates wrong in the 2007 interview and that the date given in his statement to the SFO was correct. Our media commentators all agreed it was not a good look for a man who wanted to be Prime Minister, but they let the discrepancy go largely unchallenged.
My post “John Key did you lie to the Serious Fraud Office” asks the question they haven’t. John Key, did you lie to the Serious Fraud Office?
The question will only go away if we let it
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