Former One News presenter Richard Long, who was the face of television ads for Hanover Finance, admits he has lost $50,000 in the company crash.Long has hardly spoken about the collapse of the company which left thousands of mum-and-dad investors out of p
Former One News presenter Richard Long, who was the face of television ads for Hanover Finance, admits he has lost $50,000 in the company crash.
Long has hardly spoken about the collapse of the company which left thousands of mum-and-dad investors out of pocket.
"Nothing has changed. But I feel bad about the deal - really bad," he told The New Zealand Herald.
As well as promoting Hanover, Long invested with the company.
After a debt-for-equity deal with Allied Farmers, he said, he was about $50,000 out of pocket.
"It was my biggest single investment."
Long's voiceover ad for Hanover sponsorship ran several times each night.
"This One Weather Update is brought to you by Hanover, a New Zealand business with the size and strength to withstand any conditions," Long said in the plugs.
In June 2008, the Advertising Standards Authority upheld a complaint against Hanover over the ad.
The complainant, who was a financial adviser, said Long's scripted statement was "grossly misleading" because of the financial downturn.
