The Serious Fraud Office says four people have appeared in the Auckland District Court on charges relating to the failed finance companies, Dominion Finance and North South Finance.
The four were two former directors, Terence Butler and Robert Whale, former Dominion Finance chief executive Paul William Cropp and another person with name suppression, face a total of 14 charges under the Crimes Act.
The SFO alleges between 2004 and 2008, the defendants participated in unauthorised related party lending totalling over $20 million, in breach of the trust deeds of both firms.
Dominion Finance was placed into voluntary receivership in 2008 and receivers were appointed to North South last year.
The two firms, and its parent, Dominion Finance Group, which was placed in receivership in 2008, owe $400 million to about 6000 investors.