The last of four National Finance employees to face prosecution is due to stand trial alone today after her co-accused pleaded guilty to misleading investors.
National Finance director Carol Anne Braithwaite - the former wife of jailed National Finance boss Trevor Ludlow - faces one charge of making untrue statements in a company prospectus. The charge, laid by the Financial Markets Authority, carries a maximum penalty of five years in prison or fines of up to $300,000.
Although she made an application for her case to be heard by a jury last month, this was rejected and the trial will be heard by a judge alone.
National Finance went into receivership in 2006, owing investors $21 million. Some investors have recovered 49c in the dollar.
Braithwaite was due to appear in the dock with co-accused Anthony Banbrook, but the latter made an 11th-hour guilty plea last month. Banbrook will be sentenced next month.