10 May 2013

Guilty plea by Dominion Finance ex-director

12:25 pm on 10 May 2013

Former Dominion Finance director and owner Ann Butler has pleaded guilty to seven charges of misleading investors.

Butler, whose husband and fellow director died of cancer in April, made misleading statements in the prospectuses of Dominion Finance and its subsidiary North South Finance.

Butler will be sentenced on 14 June. She is the 27th finance company director to be convicted in proceedings taken by the Financial Markets Authority.

Dominion Finance went into receivership in 2008 owing $177 million to 5900 investors. North South Finance was placed in receivership in 2010, owing $31 million to 3900 investors.

A trial of other Dominion Finance directors Vance Arkinstall, Richard Bettle, Robert Whale and Paul Forsyth begins on 17 June.