Former Councillor Andrew Hollis’ Gold Trading Business Faces Liquidation

A gold-trading business owned by former Tauranga City Councillor Andrew Hollis has entered liquidation and receivership, reportedly owing customers hundreds of thousands of dollars. This situation has left many clients of Guardians of Gold Ltd feeling aggrieved, as some claim they are owed significant amounts in cash or precious metals. A number of these customers have filed complaints with local police, highlighting the seriousness of the matter.

Hollis, who served on the Tauranga City Council until 2020, is the sole director and shareholder of the company. His tenure on the council was marked by controversy, particularly following remarks he made regarding the Treaty of Waitangi, which sparked calls for his resignation. In 2020, Hollis was among the councillors dismissed from their positions, leading to the appointment of commissioners to oversee the council’s operations.

Financial Impact on Customers

The financial implications of this liquidation extend far beyond the business itself. Customers have voiced their frustrations about the lack of communication and the uncertainty surrounding their investments. According to a report by the Bay of Plenty Times, some customers are owed amounts reaching into the thousands. The situation is exacerbated by the fact that many had entrusted their funds to the firm, expecting to receive returns in the form of precious metals or cash.

Several customers have expressed their disappointment, stating that the process of reclaiming their funds has been unclear. The lack of transparency from Hollis and the company has led to a growing sense of distrust among those affected. Some have even taken the step of reporting the matter to authorities, seeking legal recourse.

Background on Andrew Hollis

Andrew Hollis’ political career has been contentious. Elected to the Tauranga City Council in 2019, his term was characterized by significant internal conflict. His comments regarding the Treaty of Waitangi, which included a controversial suggestion about burning the document, drew widespread criticism. This controversy ultimately contributed to his removal from the council in 2020, a decision made by the government amid ongoing disputes within the council.

Hollis has been an outspoken advocate for various community issues, including the Fix the Bloody Road State Highway 2 campaign. His transition from local politics to business has now taken a dramatic turn with the recent liquidation of his company, raising questions about his future endeavors and the impact on those who relied on his business.

As investigations into the financial dealings of Guardians of Gold Ltd continue, customers and former clients await clarity on their claims and the potential recovery of their funds. The unfolding situation serves as a reminder of the risks involved in investment and the importance of due diligence when dealing with financial entities.