Sharechat Logo

Capital + Merchant directors face SFO charge

Friday 25th February 2011

Text too small?

Two former owners and directors of Capital + Merchant, Neal Nicholls and Wayne Douglas, has been remanded in the Auckland District Court to reappear in May on Serious Fraud Office (SFO) charges.

The two men face six charges under the Crimes Act brought by the SFO relating to around $14.5 million of alleged related party lending between 2002 and 2004.

They are due to reappear on May 10 for a hearing to determine whether the case is ready to proceed and to set a date for the trial.

The SFO Investigation into the failed finance company began in February last year and the men were charged in December.

Capital + Merchant was placed into receivership on November 2007 owing around 7,500 investors approximately $167 million.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Property for Industry Limited (NZX: PFI) Strong Valuation Outcome, Penrose Acquisition
3rd December 2021 Morning Report
Fonterra Shareholders Fund (NZX: FSF) Fonterra provides Milk Price, earnings and Q1 update
Kiwi Property Group Limited (NZX: KPG) Signs Sale and Purchase Agreement with IKEA
2nd December 2021 Morning Report
The New Zealand Refining Company Limited (NZX: NZR) Launches Share Purchase Plan
Seeka Limited (NZX: SEK) Confirms Market Guidance
Australia and New Zealand Banking Group Limited (NZX: ANZ) Acknowledges Class Action Proceedings
1st December 2021 Morning Report
Livestock Improvement Corporation Limited (NZX: LIC) Appoints New Chief Executive