Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Criminal charges from investigation into Viaduct and Mutual

21 March 2014

FMA files criminal charges following investigation into Viaduct and Mutual

The Financial Markets Authority has filed charges under the Crimes Act and under the Companies Act against directors and another of Viaduct Capital Limited (in receivership) and Ex-MFL Limited (in Receivership) (formerly Mutual Finance Limited).

The companies went into receivership in 2010. At the time of receivership, Viaduct owed $7.8 million to investors and Mutual owed $9.3 million to investors.

The defendants have been charged with theft in a special relationship under section 220 of the Crimes Act and making false statements in a prospectus under section 242 of the Crimes Act. These charges carry maximum sentences of 7 and 10 years' imprisonment. With respect to Viaduct only, charges have also been filed under section 377 of the Companies Act in respect of false statements made to Viaduct's trustee, which carries a maximum sentence of 5 years' imprisonment or a $200,000 fine.

The charges are filed against: Paul Neville Bublitz (Viaduct and Mutual); Bruce Alexander McKay (Viaduct and Mutual); Richard Timothy Blackwood (Viaduct and Mutual); Lance David Morrison (Mutual only), and one other who is seeking name suppression.

Charges were also filed against Nicholaas Hendrik Wevers (Viaduct). However, Mr Wevers has passed away and those charges are now being withdrawn.

The first appearance has been scheduled in the Auckland District Court on 7 May 2014.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

NZ's Space Programme: Rocket Lab Makes It To Space (But Not Orbit)

Electron lifted-off at 16:20 NZST from Rocket Lab Launch Complex 1 on the Mahia Peninsula in New Zealand. It was the first orbital-class rocket launched from from a private launch site in the world. More>>

ALSO:

Earlier:

Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>

ALSO:

Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...
More>>

ALSO:

MPI: Myrtle Rust Appears In Taranaki

The nursery in Waitara (just north of New Plymouth) reported suspected myrtle rust symptoms on young plants to the Ministry’s 0800 number yesterday (Tuesday). More>>

ALSO: