Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Guilty pleas in Dominion Finance case


26 June 2013

Guilty pleas in Dominion Finance case

Three former directors of Dominion Finance and North South Finance have today pleaded guilty to making untrue statements in a prosecution taken by the Financial Markets Authority.

Vance Arkinstall and Richard Bettle each pleaded guilty to five Securities Act charges including making untrue statements in a Dominion Finance investment statement and extension certificate, and making an untrue statement in a North South Finance extension certificate. Paul Forsyth pleaded guilty to seven charges of making untrue statements.

They will be sentenced on 16 August.

“Vance Arkinstall, Richard Bettle and Paul Forsyth failed to perform their roles as directors,” said FMA Acting Manager, Litigation, Rachael Manttan.

“They did not disclose material information and this left investors in the dark as to the true position of the companies.”

Dominion Finance and North South Finance were subsidiaries of Dominion Finance Holdings Limited. Dominion Finance went into receivership in 2008 owing $176.9 million to 5,900 investors. North South Finance was placed in receivership in 2010 owing $31 million to 3900 investors.

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The EU’s Beef With Google

There’s every indication that Google would be on a losing wicket if it chooses to fight the European Union competition watchdogs, who have just levied a $3.3 billion fine on the firm – with the prospect of worse to come if Google doesn’t quickly change the anti-competitive practices at the heart of a court battle that’s been seven years in the making.

Essentially, the case involved Google’s alleged abuse of the stranglehold it enjoys on the online advertising associated with its search activities. More>>

 
 

Legislation: Point England Housing Bill Passed

The passage of the Point England Development Enabling Bill through Parliament this evening will benefit Auckland with additional housing, help resolve Ngāti Paoa’s Treaty claim and improve the local environment and recreation facilities, Building and Construction Minister Dr Nick Smith says. More>>

ALSO:

Cyberducation: Digital Curriculum Launch And Funding Package

Consultation on new digital technologies content for the New Zealand Curriculum and Te Marautanga o Aotearoa, the Māori-medium Curriculum, was launched today by Education Minister Nikki Kaye. More>>

ALSO:

PM's Press Conference: Red Socks And Secret Tapes

Prime Minister Bill English began his post-cabinet press conference by explaining how well the National Party's annual conference went. He also mentioned today's announcement of changes to the EQC disaster insurance legislation and wished Emirates Team New Zealand well in the America's Cup. More>>

Max Rashbrooke: On How To Make Government More Open

International surveys, while often complimentary, have also pinpointed major weaknesses: political donations are badly regulated, for instance, and appointments to government boards frequently go to those with strong political connections. More>>

In Court: Hamilton Student's Lawsuit Over Climate Change Policy

A law student from Hamilton is preparing to challenge the Government in the High Court on Monday over what she says is a “failure” to properly address climate change. More>>

ALSO:

Gordon Campbell: On The Fallout From The Barclay Tape

This is hardly a case of cleaning out your desk and being turfed out onto the pavement. As others have pointed out, the disgraced Clutha-Southland MP will remain on the public payroll for three months until the election, and for three months afterwards. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election
 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog