Eric Watson, the flambouyant former New Zealand business high-flier, has finally broken cover in response to insider trading charges brought against him by the US Securities and Exchange Commission (SEC). A letter written from his current Ibiza address to the US courts is attempting to set aside a default declaration arising from his non-appearance to date with regard to the SEC charges.
He has apparently reiterated his claim that the SEC did not follow correct procedures in pursuing the case against him.
Watson has accused the SEC of procedural misconduct in handling the case and has denied any involvement in insider trading, defending his conduct in relation to the Long Blockchain case and other allegations.
Watson has also been in legal battles with fellow kiwi businessman Owen Glenn over deals that went sour and including bankruptcy action against Watson.
