Capital+Merchant directors remanded

Five directors of failed finance firm Capital+Merchant were today remanded at the Auckland District Court at large to reappear in court on August 4.

Neal Nicholls, Owen Tallentire, Colin Ryan and Robert Sutherland, together with Wayne Douglas, who was registered as a director in February 2007, face criminal charges laid against them by the Securities Commission.

Ryan, Sutherland and Tallentire were excused from appearing because they are living in Australia.

The allegations include they made untrue statements in a registered prospectus and investment statements.

Capital+Merchant collapsed in July 2007 owing 7000 investors about $167 million.


- Herald online