Staff Eric Watson

He could hide in the Warriors trophy cabinet. No one visits there very often. Only for the small games between individual clubs have some minor trophy on the line. We are probably not winning those either looking at our win rate.

My bet is somebody will find the fecker, unless the hitmen have fed him to the fishes already.
 
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Just remember bruce, he saved our club out of the goodness of his heart.
At least I'm not the only one to wind him up.

Wait For It Thumbs Up GIF by JMatt
 
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I just hope that everyone now fully understands that Watson never did anything to benefit anyone other than himself.
I've done work for businesses he owned.

The way my colleague explained it. He gutted them to sell them so they look better on the books. He also made them a customer of that company I was working for at the time so that it looked better. But to be honest, if you owned a lot of companies and an IT outsourcing company it makes sense to have them use that company instead of doubling up on IT staff. So I'll give him that one.
 
I've done work for businesses he owned.

The way my colleague explained it. He gutted them to sell them so they look better on the books. He also made them a customer of that company I was working for at the time so that it looked better. But to be honest, if you owned a lot of companies and an IT outsourcing company it makes sense to have them use that company instead of doubling up on IT staff. So I'll give him that one.
Classic private equity mentality, however he took it all to a whole new level. He tried the same strategy at the Warriors - running it with minimal reinvestment. However all old ground that was covered in this thread many years ago.
 
My bet is somebody will find the fecker, unless the hitmen have fed him to the fishes already.
He's pissed off the wrong angry mob this time.

My old man lost 50K in Hanover, I said he should think of it as a donation to Eric for buying the Warriors. That fucked him off twice as much, he's a diehard Penrith fan.


 
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This fish is not biting ;)
Not even a little.

He saved the club and changed our colours sold a lot of jerseys, nearly as much as Bendon sells underwear. Renamed us to the mighty NZ Warriors to get away from debt.

The fish in the rivers and lakes in this country haven't been safe since 1973 since my father hit these shores. It's in my genes. I'm gonna hook you Bruce.



Sport Fish GIF by Outside Watch
 
Not even a little.

He saved the club and changed our colours sold a lot of jerseys, nearly as much as Bendon sells underwear. Renamed us to the mighty NZ Warriors to get away from debt.

The fish in the rivers and lakes in this country haven't been safe since 1973 since my father hit these shores. It's in my genes. I'm gonna hook you Bruce.



Sport Fish GIF by Outside Watch
How about we sell the club to Rupert Murdoch and he can manipulate reality so we can sign any player we like and become a superclub and save NZ league, sounds good to me, how about you Bruce
 
He's pissed off the wrong angry mob this time.
Seriously, considering the people he has pissed off, it would not surprise me if he was sleeping with the fishes.

Owen Glenn is not the type of guy I would cross. He made his millions in a tough industry. He would not leave his fingerprints at the scene either.

I guess it is also possible that the Feds are less interested in Watson than they make out.

Who knows?
 
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Was wondering what Cullen Investments owned so had a little Google...

Cullen Investments is a private international investment company, based in Auckland, New Zealand.

The company was founded in 1995, by executive chairman Eric Watson but has its origins in a start-up founded in 1988 by Watson.

Company is currently pursuing the development of its international portfolio, which includes interests in US, UK, Australia & New Zealand.

Portfolio Companies:

- Bendon: A global lingerie company that has operations in US, UK, Australia, New Zealand & also in the Gulf States through franchised stores.

- Cullen Agricultural Technologies: Cullen Agricultural Tech., a wholly-owned subsidiary of Cullen Agricultural Holding Corporation, offers a range of farm management and technology services to improve the productivity & profitability of food animal production.

-Real Estate: Cullen Investment has a widespread property portfolio of commercial & residential assets in New Zealand, US and UK.

-Watson Foundation: The Watson Foundation is a charitable trust structured by Cullen that assists underprivileged children & young people. The foundation generally sponsors smaller charities that face difficult times in raising funds, such as The First Tee of New Zealand

-Private Investment Portfolio: Cullen’s investment portfolio also comprises of a number of privately traded portfolios in foreign exchange, equities & commodities.

-Sports and Entertainment:

Cullen's portfolio comprises of
--The Warriors
--Watson Bloodstock
--Westbury Estate
--Soul Bar and Bistro

 
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A Judge has accepted a claim made on behave of the creditors for Cullen Investments that Watson owes Cullen Investments $57 million. Watson was not at the court hearing neither was he represented by lawyers. Attempts to serve him legal papers had been unsuccessful.

When I saw he headline I thought they must have found him and served him...it appears they haven't.

He is purportedly living on Ibiza, a small jet set island of the Costa del Sol in Spain.

How can such a well known face be hiding here?

My bet he is sleeping with the fishes.
 

Eric Watson: Net closes in insider trading case​


Eric Watson is next in the sights of the US Securities and Exchange Commission, after an attempt to dismiss its insider trading complaint against the embattled New Zealand businessman and two others was rejected by US courts.

In mid-2021 the Securities and Exchange Commission (SEC) filed an insider trading complaint against Watson, Oliver-Barret Lindsay and Gannon Giguiere, alleging that Watson - a 30 per cent owner of Long Island Ice Tea (LTEA) - tipped off his co-accused in late 2017 about an imminent pivot of the beverage-maker on to the blockchain.

The SEC claims that after being informed of the imminent rebrand into Long Blockchain, Giguiere immediately bought 35,000 LTEA shares on December 20, 2017 for US$2.44 each.

The following day, less than two hours after the blockchain rebranding became public and drew significant froth from crypto-boosters, Giguiere sold the shares for US$6.91 and generated a $162,500 profit.

Watson has not engaged with the court action. The SEC successfully applied to serve him in absentia by advertising its claim in the New York Times after failing to locate him in his presumed residence in Ibiza.

Watson has previously told the Herald he believes the complaint is without merit as he had not personally profited from any of the transactions in question.

Lindsay settled his part of the complaint in early 2022 and awaits the conclusion of the case to hear what level of regulatory and financial sanctions he will face.

Giguiere filed late last year to dismiss the SEC case, with a key part of his defence being that Watson received no personal or financial benefit from the transaction.

But in a ruling earlier this month US judge Andrew Carter Jr dismissed Giguiere’s motion, and said the SEC had established a quid pro quo relationship between the defendants - particularly between Watson and Lindsay, his broker.

“The court agrees that the [SEC] sufficiently alleges that Lindsay and Watson are friends and that Watson intended to make a gift to Lindsay out of friendship,” Carter said.

The SEC claimed Watson’s observations to his co-accused that LTEA shares would skyrocket - perhaps to US$50 a share - off the back of the planned Blockchain rebrand was “intended to benefit Lindsay by providing him this information so that he could trade stock”.

The SEC told a court this week it would press on with its case against Giguiere, but given it claimed that Watson breached fiduciary duty in passing information to him, it would target the defendants in order.

“The commission has no current plan to move for the entry of a default judgment against Watson, but will be prepared to do so as soon as is practicable after it resolves its case against Giguiere,” a letter from the SEC said.

Watson faces legal war on multiple fronts, with the insider-trading case presenting arguably the least-serious threat.

The collapse of his New Zealand-based Cullen Group in 2019 - following a ruling it owed $112m over tax avoidance - has seen nearly two dozen of his companies placed in administration.

Despite a long-running circus where liquidators claimed Watson was hiding from document-servers, earlier this year, liquidators signalled an intent to bankrupt him after securing in absentia a $57m summary judgment against him personally.

And a titanic struggle with his former business partner Sir Owen Glenn - waged in international courts for more than a decade that has burnt tens of millions in legal bills on both sides - has seen Glenn use court awards in his favour to chase Watson personally around the globe, and his family members in New Zealand and in the United States, seeking $82m.

In late 2020 lawyers acting for Glenn managed to have Watson thrown in prison - a rare outcome in a civil case - for contempt of court after finding he had hidden assets in a “rainy day account” in his mother’s name. Watson served four months in London’s Pentonville prison.

 

Eric Watson: Net closes in insider trading case​


Eric Watson is next in the sights of the US Securities and Exchange Commission, after an attempt to dismiss its insider trading complaint against the embattled New Zealand businessman and two others was rejected by US courts.

In mid-2021 the Securities and Exchange Commission (SEC) filed an insider trading complaint against Watson, Oliver-Barret Lindsay and Gannon Giguiere, alleging that Watson - a 30 per cent owner of Long Island Ice Tea (LTEA) - tipped off his co-accused in late 2017 about an imminent pivot of the beverage-maker on to the blockchain.

The SEC claims that after being informed of the imminent rebrand into Long Blockchain, Giguiere immediately bought 35,000 LTEA shares on December 20, 2017 for US$2.44 each.

The following day, less than two hours after the blockchain rebranding became public and drew significant froth from crypto-boosters, Giguiere sold the shares for US$6.91 and generated a $162,500 profit.

Watson has not engaged with the court action. The SEC successfully applied to serve him in absentia by advertising its claim in the New York Times after failing to locate him in his presumed residence in Ibiza.

Watson has previously told the Herald he believes the complaint is without merit as he had not personally profited from any of the transactions in question.

Lindsay settled his part of the complaint in early 2022 and awaits the conclusion of the case to hear what level of regulatory and financial sanctions he will face.

Giguiere filed late last year to dismiss the SEC case, with a key part of his defence being that Watson received no personal or financial benefit from the transaction.

But in a ruling earlier this month US judge Andrew Carter Jr dismissed Giguiere’s motion, and said the SEC had established a quid pro quo relationship between the defendants - particularly between Watson and Lindsay, his broker.

“The court agrees that the [SEC] sufficiently alleges that Lindsay and Watson are friends and that Watson intended to make a gift to Lindsay out of friendship,” Carter said.

The SEC claimed Watson’s observations to his co-accused that LTEA shares would skyrocket - perhaps to US$50 a share - off the back of the planned Blockchain rebrand was “intended to benefit Lindsay by providing him this information so that he could trade stock”.

The SEC told a court this week it would press on with its case against Giguiere, but given it claimed that Watson breached fiduciary duty in passing information to him, it would target the defendants in order.

“The commission has no current plan to move for the entry of a default judgment against Watson, but will be prepared to do so as soon as is practicable after it resolves its case against Giguiere,” a letter from the SEC said.

Watson faces legal war on multiple fronts, with the insider-trading case presenting arguably the least-serious threat.

The collapse of his New Zealand-based Cullen Group in 2019 - following a ruling it owed $112m over tax avoidance - has seen nearly two dozen of his companies placed in administration.

Despite a long-running circus where liquidators claimed Watson was hiding from document-servers, earlier this year, liquidators signalled an intent to bankrupt him after securing in absentia a $57m summary judgment against him personally.

And a titanic struggle with his former business partner Sir Owen Glenn - waged in international courts for more than a decade that has burnt tens of millions in legal bills on both sides - has seen Glenn use court awards in his favour to chase Watson personally around the globe, and his family members in New Zealand and in the United States, seeking $82m.

In late 2020 lawyers acting for Glenn managed to have Watson thrown in prison - a rare outcome in a civil case - for contempt of court after finding he had hidden assets in a “rainy day account” in his mother’s name. Watson served four months in London’s Pentonville prison.

but he saved the Warriors though :rolleyes: ...I wonder where the club's millions are?
 
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