A banned company director has recently targeted a number of New Zealanders with threats of legal proceedings being issued against them if they don’t follow his demands – an action described by a promiment business leader today as appalling. [Read more…]
Two of four former Five Star Finance directors, Nicholas Kirk, 65, an accountant and Marcus MacDonald, 89, a lawyer, were sentenced to prison terms at Auckland District Court today. All had been banned by the Registrar of Companies from acting in any management role in tany company, for five years, in April 2009.
Five Star Finance was put into receivership on 29 August 2007 owing 2,000 investors more than 46 million New Zealand dollars. Serious Fraud Office (SFO) chief executive Adam Feeley said:
“SFO is pleased with the delivery of a custodial sentence. This is the first sentencing in relation to a major finance company collapse [there have been 30 in the last few years], and continues the clear message from the Courts as to the seriousness of white collar crime.” [Read more…]