To date, the nearly one thousand investors snared in BlackfortFX’s Ponzi fraud have got back thirty cents in the dollar. The High Court has now ordered John Emrys Tyler and his company Chipmunk One Ltd repay $652,500 for distribution by BlackfortFX’s liquidators.
BlackfortFX, registered as Arena Capital Ltd, was in liquidation a little over a year after its 2014 incorporation. BlackfortFX was a scam, used by Lance Ryan and Jimmie McNicholl to perpetrate a Ponzi fraud. Both have been convicted of fraud offences. Funds supposedly placed for investment were stolen.
BlackfortFX liquidators are chasing down investors’ money. Legal action was taken against John Tyler and his company. Companies Office records show Mr Tyler now living in Blenheim. He did not defend liquidators’ claims. Justice Osborne ordered Mr Tyler personally repay $317,500 (plus interest totalling $42,000) and his company Chipmunk repay $259,000 (plus interest of $34,000). Liquidators told the court Mr Tyler opened BlackfortFX accounts in the middle of 2014. Mr Tyler paid no money into BlackfortFX; Chipmunk did put in some money. BlackfortFX payments to both Mr Tyler and Chipmunk were in breach of the Property Law Act as payments made with intent to defeat investors, the liquidators said.
Graham v. Tyler – High Court (13.03.19)
19.056