19 Apr 2013

Five Star Finance founder jailed

5:24 pm on 19 April 2013

The founder of Five Star Finance has been jailed for his role in the collapse of the finance company.

Neill Williams pleaded guilty more than two years ago to 16 charges, including three of making a false statement in a registered prospectus and one count of making false or misleading statements in financial statements.

Five Star Consumer Finance and Five Star Finance collapsed in 2007, owing $97 million to more than 2000 investors.

Williams has been jailed for three years and seven months.