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Liquidators’ discussions with representatives of Watson had not resulted in an outcome, the report said. “Proceedings against Mr Watson have been drafted and are ready to be filed, after finalising a logistical matter regarding service of the relevant documents,” it said. Liquidators’ expected to have proceedings filed within the coming weeks and would provide an update in the next reporting period. Six months ago the former rich-lister was released from London s Pentonville Prison where he served four months for contempt of court after withholding information about his assets from philanthropist and former business partner Sir Owen Glenn. Cullen Group’s liquidators say Cullen Investments is the shareholder of a number of group entities and has or had interests via loans, advances and shareholdings in numerous other entities.
Eric Watson.
Photo: PHOTOSPORT
The US Securities and Exchange Commission says Eric Watson was a controlling shareholder of Long Island Iced Tea Corp in late 2017.
It alleges he tipped off a broker about the company changing from a soft drink dealer to blockchain technology.
It claims the broker passed on the information to a friend who made thousands of dollars when the company s share price surged 180 percent.
Watson spent four months in a London prison after being convicted of contempt of court last year, in a case brought by former business partner Sir Owen Glenn. Tags:
Former Hanover Finance co-owner charged with insider trading in US
Eric Watson has been charged with insider trading. (Photo / NZH)
Former Hanover Finance co-owner charged with insider trading in US Sat, 10 Jul 2021, 2:30PM
Eric Watson has been charged with insider trading in the US after shares were traded in a drinks company before it switched to blockchain technology, sending its share price soaring.
Watson, a former convict and New Zealand rich-lister, drove - despite being an undisclosed control person of the company - the change of Long Island Ice Tea Corp s rebranding to Long Blockchain Corp, according to a United States Securities and Exchange Commission statement reported by Bloomberg News.
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