Appearing beneath this red narrative is a fraudulent
                         document. For evidence click  here 
It is the audit certificate  for the 1990 Bank of New Zealand
                           annual accounts. We will try to 
navigate around salient features of architecture so that
viewers do not miss out on anything. More Background.The Bank
was the country's largest bank in the early 1980s with a 40%
share of the market and at that time was state owned.Then with
                        a new government in 1984 a small
                       portion of the shares were distributed
by public issue and Ron Brierley, a wealthy self made NZ 
businessman was made chairman. There followed NZ's boom bust 
cycle, more accentuated than anywhere else in the world,ending
in the Nov 1987 crash. The bank's reported annual profit
4 months later remained healthy at $255m but in the year to 
Mar 1988 a loss of $939m was posted, presumably because of
                                     writeoffs of advances made
pre crash. As a result Mr Brierley left the board and generous
bail out was made by the govt and a contribution came from
Capital Markets Ltd for an allocation of 30% of the Bank's
share capital leaving the government with just over 50%. Capital
Markets Ltd was controlled by Messrs Fay and Richwhite.cont:    














A worthwhile history Of Capital Markets Ltd can be found at 
 Herald Cap Markets Story but please return. Early in the 1990
year it would have been thought that effects of the 87 crash
were over but it was not to be. About the time that this audit
was finalised the UDC, another former govt institution, went
into receivership and the govt announced that it would not bail
it                      out implying that all such institutions 
were                    on their own now. There was then much
incentive to hide the situation until a new govt came in, at
least by Capital Markets and possibly also by the govt of the
                       time. As for the Auditors whose
                     signature we have just passed by, there
were about 100 of them but it seems to be very hard to find
just who they all were. It is likely that they were told about
     $400m of zero coupon bonds which we jacking up the 
                          BNZ profits prior to the signing and
hence they would seem to be all equally responsible. They never
                        had any obligation to help get the
bank's owners or directors out of their fix. Their duty was to
ensure that the accounts were accurate and if not to say so.