Capital + Merchant directors face SFO charge

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

PEB - Medicare Coverage for Triage & Triage Plus Confirmed
AIA - Auckland Airport bond offers: bookbuild update no. 2
BGP - 3rd Quarter Sales to 25 October 2026
MLN - Marlin Global Investment Mandate
TCM - Fast-Track Panel Draft Decision - Approve Barrytown Project
RGI - RUA Gold Substantive Fast-track Application for Auld Creek
CEN - Contact green Capital Bond offer closes
SKC - Intention to Appoint New Director
TEM - Transaction in Own Shares
ALF - Conditional Sale of Waikato Properties