NZ's self-styled Donald Trump used investor cash for alpine holiday homes

Friday, 24 April 2026

A Canterbury businessman who calls himself NZ’s Donald Trump spent millions of investors’ dollars on family holiday homes, according to a report just made public.

Rangiora company director and former bankrupt Bernard Whimp is fighting attempts by the Financial Markets Authority (FMA) to liquidate his company Chance Voight Investment Corporation and five associated entities. They are now in the hands of an interim liquidator.

In a statement released this week Whimp said none of Chance Voight’s “operating systems” contravened any laws and told The Press its enquiries related to “a storm in a teacup”.

The group of companies reported a net deficit of $11.8 million and a consolidated loss of $5.5m for the six months to September 2025.

An audit report from liquidators PWC to the High Court, released from suppression this week, says a 'substantial shortfall' will likely leave the group’s mostly elderly investors and shareholders out of pocket.

Among the group’s assets are five properties in the alpine village of Arthur’s Pass.

Another company headed by Whimp, which is not involved with the liquidation, owns two Porsche 911 GT3 sports cars, a 2023 and a 2024 model, which would have cost about $450,000 and $493,000 respectively when new.

Whimp agrees his companies are insolvent but says there is enough money to pay the debts and he wants to restructure the business. He said in a statement released this week, that the PWC report is “not worth the paper it is written on”. The report followed an FMA investigation.

Whimp’s companies own 11 properties, of which four were bought from parties with family connections. Three others were bought from his investors.

Some of them might be worth less then the valued recorded, the report says.

The properties include three hillside holiday houses and two sections on Cloudesley Rd in Arthurs Pass.

About $2.1m, including interest, was advanced to one of the companies for “alterations projects for two neighbouring holiday homes which are owned by trusts associated with the director and (an unnamed family member).” The amount was partly offset by a $600,000 advance from a trust associated with Whimp.

Whimp intended to keep one of the homes for himself, the report says.

“CVICL records appear to indicate that the property was to undergo renovation / building works undertaken with the intention that he would subsequently take personal ownership.”

The two vacant sections were 100% funded through the company’s mortgage scheme, says the report.

Aaron Murray, a director of Gas Installation Solutions in Christchurch, installed a gas fire and gas cooking and hot water systems at two of the Arthurs Pass holiday homes.

“Money did not seem to be an issue (for Whimp) at the time,” he said. “The renovations were high-spec for holiday houses in that location.”

The gas fire was worth about $10,000, and at one stage a gas fitter was sent from Christchurch to Arthurs Pass “just to bend a pipe” a few millimetres, he said.

One of the builders on the project, who The Press agreed not to name said copper external cladding, imported Australian hardwood, new roofs, and expensive cedar-framed windows were put in, they said. “It wasn’t a cheap undertaking”.

In reponse to questions from The Press about his spending on the houses, Whimp said he received a loan as “part of my remuneration package as the CEO of Chance Voight”, because he took on personal liability and guaranteed a vehicle loan.

“That loan is in the books of Chance Voight as owing by me and is an asset of Chance Voight. The loan charges interest at 12% pa. It is entirely normal and reasonable business in the circumstances.”

He said any amounts owing to tradespeople “is a tiny fraction of the total build cost. The owners of the properties have committed to ensuring that any small remaining bills are paid.”

“There's nothing in your enquiry, it's a storm in a teacup, it's a complete non event.”

Whimp’s business also bought three commercial properties in Rangiora. No independent valuations for those have been located, the PWC report says. One company paid a deposion a Rangiora lifestyle block.

Late last year Whimp emailed staff saying he was in a “most glorious punch up” with the FMA.

“I am enjoying my elevation to NZ’s ‘Donald Trump’. It is considerable fun”, the email said.

The PWC report said Whimp was potentially operating a scheme funding investor returns with new capital, not actual profits. The business was formed to invest in real estate, providing mortgages for the properties, and in the Australian Stock Exchange.

It concludes the business is not viable and should be liquidated.

The report says a “substantial level of activity and use of investor funds, including via advances to related entities outside of the Group, appears to be related to the personal interests of the director and his family members”.

“Decision-making within the Group is highly centralised to one person (Mr Whimp) with no independent oversight, inadequate governance records, and significant related-party transactions.'

Whimp has convictions for burglary, removing documents of a company in liquidation and failing to comply with a liquidator’s notice, according to a 2009 Supreme Court judgment written after he unsuccessfully sought leave to appeal.

He was banned from company directorship from September 2007 to September 2012. He was bankrupted in 1998 then discharged in 2001 after reaching an agreement to pay creditors.

Whimp said in his statement this week that none of Chance Voight’s “operating systems” contravened any laws.

It said the group has an “immaculate track record since inception”, that “interest and principal repayments [were] paid in accordance with the allowable terms of the information memorandums”, and “funds deployed in accordance with the terms of the fund’s Information Memorandums”.

It said there were “zero financial irregularities”.

“We say that in December last year Chance Voight has deposits in its funds of approximately $50m and had full asset coverage for those deposits of better than $50m. We say that by 31 March this year the deposit asset coverage would have been $12m higher than the sum owed to depositors.”