Keep up with
Newstalk ZB

Sat, 25 May 2013, 23:41

Have Your Say

Talkback 0800 80 10 80
Overseas +64 9 307 1080
Text 9292

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • RSS
  • Sign Up

Site Search

Search Search

Select your region:

Former heads of Capital and Merchant Finance found guilty of fraud

Share |

Former heads of Capital and Merchant Finance found guilty of fraud

By: Newstalk ZB Staff | Latest Crime News | Thursday July 19 2012 16:29

 

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

 

Related Subjects

finance guilty |

 

Latest Crime News

Advertisement
Mike Hosking Breakfast
Advertisement

  • Super Rugby: Brumbies down Blues in wet & windy en ...

  • Heavy rain warning lifted for Northland

  • Submitters have their say on fluoride in water

  • Lotto: Three first division prize winners

  • Kiwis must stamp out abuse of disabled

  • Change needed in disability sector

  • Waikato surgeons pioneer heart technique

  • Loving parents can be bad for risky genes

Latest Newstalk ZB Video

  • Spotlight Hour: Laurie Daley

  • Elliott and Scurrah: What's up ...

  • Andrew Dickens: Daft Punk

  • Mike Yardley: Travel

  • Friday-Bashing Banks

  • Wednesday-Twister

  • Tuesday-Things People Do Not W ...

  • Friday-Budget Passion

National Convention Centre

Do you support the Government's deal with SkyCity over the National Convention Centre

Vote Now

View Results

Advertisement

  • Roger Advice
  • Paper Plus
  • Awesome Service
  • Radius Care
  • Advertise With Us
  • ZB App ad