To Contact Us
to page back through Previous Editions click here Index is in right hand column

July 2012 Edition ----

Please peruse our evidence (really proof) of the Government backed Feltex IPO $250m robbery. Click here.

We have now had the opportunity to Chief Coroners report into the death of David Patrick Gaynor.

The report is very bland and points the finger nowhere except perhaps the deceased. It tries to give the view that it was just one of those things. It declines to discuss the law concerning the supply of liquor to minors other than by way of sale. It infers the law is evolving but does not say what the legal position was at the time of David's death. We believe that there are laws and they should be applied.

It says in paragraph 11 that the original plan was for David and his date to be driven to the down-town function by his father but it does not say who or what disrupted this plan. That could be a big clue as to what was going on. It would seem that pressure from David initiated the change. Probably he needed to get tanked up in order to tackle the down-town function. This relaxed, laid back, "chilled" and easy going boy of paragraph 4 is just what people would naturally tell the coroner. If they say anything else they are likely to be asked to justify it. It would seem this boy had big problems. He did not take part in any structured sports because he would have no say about who he had to associate with at practice and in playing with or against; or who will be on the sideline yelling abuse. He has obviously been the target of far too many hurtful jibes as the son of the business "spoil sport". "My old man risks going to jail because of your old man" might be the typical jibe. He drove himself to school probably to avoid such jibes on the bus. He chose to be a spectator and to go skiing so he could choose who he was with.

2 The coroner espoused a theory as to what motivated David to take his life but did not explore the equally relevant matter of what caused him to become hopelessly drunk or otherwise drugged prior to going to the down-town function. It seems he went to the first function because it gave him a good opportunity to have a few or quite a few drinks etc prior to attending the second one. Although there were parents at this second function, hosted by Mr Norgate, the coroner does not say whether all parents had been invited or whether David's parents were invited. David seems to have been a bit of an orphan at these functions.

3 Importantly the coroner made no mention of the separate very public personal relationship between Mr Gaynor and Mr Norgate. You need only visit the NZ Herald web site to explore this. Both have rare names which makes it easy.

For instance there is an article headed "Business ethics a million miles away" published on 15 May 2010, about a month before the previous year's school ball, held we believe at Eden Park on 19 June 2010. Nothing is said in the coroners report about whether David or Mr Norgate's child attended the 2010 ball but David at least would have been eligible to do so. We suspect Mr Norgate hosted a function on the night of that ball also which David may have attended.

The article of 15 May 2010 contains statements such as "The original prospectus stated that Norgate had invested $20 million of equity in Rural Portfolio but it now appears he has none". Rural Portfolio went into receivership and investors were expected to get back 45% of subscribed capital. This brings up the problems of a son of a credible investment commentator living in the precinct of rich crooked business people who have had an effective exemption from the consequences of crime from a crooked Government.

We submit that it is highly credible that David was excessively tanked up prior to attending the down-town function because of his apprehension at possibly meeting the host, the larger than life Mr Norgate. Perhaps because of some of his connections, possibly including his date, he has felt obliged to attend this function. More likely he did not want his father to be aware that he did not want to go there because it would concern his father and would lead to a series of lectures etc. It would not surprise us if David had got a little roasting as the son of a tell tale at a previous year's function. Anyway David and his mates, indeed all pupils of the senior school, would inevitably take some interest in Mr Gaynor's writings, and this must have presented David with scorn from some quarters. It would be far more appropriate for him to have attended a school in a lower middle class suburb where the unfortunate suckers who have trusted Mr Norgate probably live. His father would be more of a hero there.

While there will be always problems of business people with sloppy ethics, as the title of the article indicated this was major deception. It probably not being prosecuted because during the time the false statement was made the Government had appointed SFO and Securities Commission members on condition that they protect fraudsters from prosecution rather than initiate prosecutions. The authorities "went to sleep" as Mr Gaynor has put it. This was so the instigators of the Feltex IPO who robbed $250m off a gullible section of the public, would not get into trouble. The Government had arranged this robbery to fund Olympic Games cheating. We got 3 golds and 2 silvers at Athens, well above what our population would indicate. The evidence is on our web-page www.justaccounting.co.nz/sp.htm .

Finance company directors and management are now copping heavy jail sentences for the same type of fraud as the Feltex IPO instigators committed. These finance people just went on the "if its good enough for them its good enough for us" principle. But the FMA is now on the job although it will not revisit anything in the Securities Commission era. It is getting rid of everything of that era from its web-site. But the FMA is a Securities Commission. It subscribes to the International Organisation of Securities Commissions which Jane Diplock flew around the world promoting to enhance her image as an international chair when she should have been here prosecuting the Feltex IPO instigators.

We believe that David has encountered more scorn or unease at the 2011 down-town function, which has caused him to decide to end his life. The coroner has noted that his claim by text to friends about being caught with drugs on him appears to be false. But the coroner is determined not to learn anything from that. David seems to have been caught in a place where it was acceptable for a male guard to be in or look in. The misbehaviour was no big deal and it seems he deliberately instigated it to provide an excuse for his death. To give the real reason would upset his father to a greater extent as well as being difficult to explain. Generally it is only people who have had a long term troubled life that think of ending it.

The Coroner had a clear duty to at least highlight the extraordinary relationship between David's father and the host of the down-town function. That relationship is factual and not just an opinion of ours. Having David attend the same school as Mr Norgate's child was most unwise, especially when Mr Norgate was playing a role in school affairs, and the Herald and other responsible community leaders should have helped Mr Gaynor do something about that.

As well the Coroner had a duty to say that the highly illegal Feltex IPO robbery which Government and opposition leaders have initiated has caused the death of David and hence these leaders have murder on their hands. If this robbery had not taken place there would be no big crimes for Mr Gaynor to report on and David's life would have been much easier. Politicians can and do legally make decisions which they know will inevitably cause death as when they deploy troops to a war zone but if it is not done by way of or pursuant to an Act of Parliament then they have no more rights than anyone else and must take the consequences. We have already given the Coroner clear evidence of this IPO robbery which he has chosen to reject.

We await a hopefully more rational report into the death at Wellington of Paul Phillip Wilson who died a few months before David and, we think, for very similar reasons.

We request the police to charge the instigators of the Feltex IPO including senior political leaders with the deaths of these two young men. Homicide is their domain and nobody elses.

Advertising section

------------------------

Suitable Objectives

Register of Members

Members Forum - Topical
* open to all meantime:

Plenty of Opinion

Magazine Plans

Need an Accountant?
or Prepared to Change?

Users Forum
* have your say

Ready to Join?

Knowledge Tests
* being developed

What's Wrong with
the existing 
accounting body?

So called BNZ Audit
an extensive case study

 Visit our Advertising
page from 
Here