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 LOL, runaway millionaire says NZ run by 'idiots'

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LOL, runaway millionaire says NZ run by 'idiots' Vide
PostSubject: LOL, runaway millionaire says NZ run by 'idiots'   LOL, runaway millionaire says NZ run by 'idiots' Icon_minitimeFri Aug 30, 2013 10:40 pm
An American investment guru who abandoned his South Wairarapa mansion says New Zealand is run by "idiots" and only the insane would invest here.

LOL, runaway millionaire says NZ run by 'idiots' 9105276

James Dale Davidson's $1.6 million mansion on the Wharekauhau Lodge estate will be sold in a mortgagee sale after he stopped paying his bank, despite having funds in the United States.

"In my view, it was more important to pay my children's private tuition than the bank . . . so that was that," he said from his Florida home yesterday.

He blamed the mortgagee sale on a break-up with his second wife, Taciana, who he says was a former Miss Brazil.

"I made the mistake of marrying a woman I thought was in love with me but who wasn't," he said. "When she divorced me she took a lot of money."

But he believed New Zealand was also to blame, with its hostility towards rich foreigners making it a terrible investment prospect.

"I've made millions in Argentina. I've made millions in Peru. I went to Brazil and made millions . . . and I've gone to New Zealand and lost millions and millions. I think your country is run by idiots."

He claimed he lost $5m investing in New Zealand and still owed about $1m.

"I love the house, I love the place. I think New Zealand is a lovely place to live, but it's just not a place that you can make money."

Instead of putting up barriers, it should be focusing on becoming a wealthy "retirement haven", he said.

http://www.stuff.co.nz/business/money/9109565/Runaway-millionaire-says-NZ-run-by-idiots
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