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By: Newstalk ZB Staff | Latest Crime News | Thursday July 19 2012 16:29
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Two former directors and the CEO of of failed finance company, Capital and Merchant Finance have been found guilty on a number of fraud charges brought by the Serious Fraud Office Neal Nicholls, Wayne Douglas and Owen Tallentire were charged after an investigation into $28million worth of transactions between 2004 and 2006. Serious Fraud Office Chief Executive Adam Feeley , describes it as one of the most important commercial fraud cases in recent years where the public was fooled into investing for one purpose but the money used for something else. He says the lives of thousands of New Zealanders were irrevocably changed for the worse by the collapse, with $190million invested by approximately seven thousand people. Photo: stock.xchnge |
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