Director pleads guilty
A Capital + Merchant Finance director has pleaded guilty to three charges laid by the Financial Markets Authority.
Wednesday, January 30th 2013, 11:19AM
Owen Francis Tallentire pleaded guilty to two charges of making an untrue statement in a registered prospectus and one charge of distributing advertisements that included an untrue statement. He will be sentenced on March 15.
FMA head of enforcement Belinda Moffat welcomed the plea.
"This case is a further illustration of the importance of holding to account those who are responsible for untrue statements made to investors in offer documents, particularly in cases such as this where the conduct is particularly serious and the market impact is great," Moffat said.
The prosecution involving similar charges against other directors of Capital + Merchant Finance will begin on February 11.
Tallentire is serving a five-year prison sentence after he was found guilty on two charges of theft by a person in a special relationship in a prosecution taken by the SFO.
Capital + Merchant Finance owed $167.1 million to about 7500 investors when it was placed in receivership in November 2007.
| « Forex broker charged | What's an actuary worth? » |
Special Offers
Comments from our readers
No comments yet
Sign In to add your comment
|
|
Printable version |
|
Email to a friend |
