Capital + Merchant directors face SFO charge

Friday 25th February 2011

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.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
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:

Geneva Finance Limited (NZX: GFL) Half Year Results
The New Zealand Refining Company Limited (NZX: NZR) NZ announces equity raising
Asset Plus Limited (NZX: APL) Result for the six months ended 30 September 2021
Me Today Limited (NZX: MEE) 30 September 21 Results and Conditional Placement
Oceania Healthcare Limited (NZX: OCA) Delivers Improved Performance Despite COVID-19
29th November 2021 Morning Report
Radius Residential Care Limited (NZX: RAD) Announces Half Year Results of FY22
NZ Automotive Investments Limited (NZX: NZA) Interim Results for Half Year 2022
Greenfern Industries Limited (NZX: GFI) Releases Interim Results
Hallenstein Glasson Holdings Limited (NZX: HLG) Announcement of Final Dividend