Capital + Merchant directors sentenced
Three directors of the failed finance company Capital + Merchant Finance have been sentenced at the Auckland High Court following action taken by the Financial Markets Authority.
Friday, March 15th 2013, 5:00PM
Owen Francis Tallentire, Colin Gregory Ryan, and Robert Gordon Sutherland each pleaded guilty to two charges of making an untrue statement in a registered prospectus and one charge of distributing advertisements that included an untrue statement. The charges were laid under the Securities Act.
Owen Tallentire was sentenced to 12 months’ imprisonment. He is currently serving a five-year fraud sentence following a prosecution taken by the SFO.
Colin Ryan was sentenced to seven months’ home detention, 300 hours community work and ordered to pay $100,000 reparation.
Robert Sutherland was sentenced to six months’ home detention, 300 hours community work and ordered to pay $60,000 reparation.
The reparation will be paid to the receivers. Capital + Merchant Finance collapsed in 2007 owing $167.1 million to about 7500 investors.
| « National Finance director sentenced | Sovereign rating affirmed » |
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