The Serious Fraud Office says it has laid a further 11 charges against two current and one former director of failed finance company Capital + Merchant Finance.
The charges relate to more than $28 million worth of transactions between 2004 and 2006, and are in addition to six Crimes Act charges laid last year.
The three accused, Neal Medhurst Nicholls, Wayne Leslie Douglas and Owen Francis Tallentire, are due to appear in court in Auckland next month.
The SFO alleges the transactions were in branch of restrictions contained in the company's trust deed, and resulted in trusts controlled by the accused receiving about $15.9 million in benefits.
The earlier charges were laid against Nicholls and Douglas and involved nearly $14.5 million worth of related party lending to Palmerston North development 'The Hub Properties' dating back to 2002.
That case is due to go to trial in February next year.
Acting SFO Director, Simon McArley, said: "confidence in the integrity of our financial markets will not be restored unless New Zealand investors believe there have been thorough investigations and, where appropriate, serious criminal charges laid against those responsible for the collapse of the finance companies."
Capital+Merchant went into receivership owing more than $165 million to about 7000 investors.
- NZ HERALD ONLINE
Finance company directors charged
File photo
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