Cassel’s and Taurus put potential Tannery Investors Money at risk

When Alasdair Cassels set out to raise funds ($17.5 Million in Investors Cash + $14 Million in Bank Debt) for his Tannery Business, Mr Cassels had been employing convicted Serious Fraudster (Mike Swann) who is only out of prison on Parole until 2018, as a "Project Manager" Meaning Mike Swann, would have a controlling stake in future developments at the Tannery. It also would mean that Mike Swann would be in control of some the Investors funds.

David Kitson, Director of Taurus, and Also a Director of the new Tannery Feature would surely have known of Mike Swann's employment.

How come it wasn't disclosed to potential Investors? Ultimately putting numerous Potential Investors money in serious risk.

You can read more about Mike Swann HERE.

You can read more about Swann Being employed as Project Manager HERE

In the second article you will clearly see the date of the article as, June 13 2016. This article also states:

Cassels, who owns The Tannery complex in Woolston, Christchurch, said he had employed Swann for more than a year, largely as a project manager.

During that time, Swann was involved with the $2m repair and refit of a building at The Tannery that housed the new Deluxe Cinema.

He would also look after Cassels' plans for a wharf and bridge over the Heathcote River, which were announced more than two years ago.

This clearly shows his control of Funds, and Management of the Repair and Refit of a building at The Tannery that housed the NEW Deluxe Cinema. Remember this was all at the same time, Alasdair Cassels and David Kitson, were trying to garner some funds of some unsuspecting Investors. The offer evidently failed. and potential Investors managed to dodge a Silver Bullet. But who knows what approach they will try next. If they even try.

In the same article it outlines Swann's offending and the seriousness of it.

Swann, 64, and his associate, Kerry Harford, were found guilty in 2008 of defrauding the then Otago District Health Board (DHB) of about $16.9 million by invoicing the board for bogus computer-related services.

Swann led a lavish lifestyle while ripping off the DHB from 2000 to 2006. He received about $15m illegally and spent much of it on cars, boats and property. At the time of his trial, the case was considered the biggest employment fraud in the country's history.

In another article found HERE you will see Swann was the Chief Information Officer at the Otago District Healthboard at the time of his offending.

Two men accused of defrauding Otago District Health Board of almost $17 million have been found guilty.

Michael Swann 47, the board's former chief information officer, and Kerry Harford, 48, a Queenstown surveyor, have both denied acting dishonestly or fraudulently.

Article published by D Blair, Hamilton. Image from The Tannery Website. Prospectus sourced from HERE

Cassels Taurus Tannery Prospectus.

 

 

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