4 Aug 2008

Fourth man faces charges over finance company collapse

5:04 pm on 4 August 2008

The Companies Office is prosecuting a fourth person in relation to the collapsed subsidiaries of the failed lender Five Star Consumer Finance.

Three directors of Five Star Finance and Five Star Debenture Nominee Limited have already been charged: Marcus MacDonald, Anthony Bowden and Nicholas Kirk.

A fourth person, Neil Williams, is to be charged as a principal officer.

The charges relate to securities being offered and allotted to the public without a registered prospectus, investment statement or appointed trustee.

The businessmen are charged under the Securities Act, and the Securities Commission and Serious Fraud Office are separately investigating the Five Star Group.

Their appearances at the Auckland District Court were excused on Monday, and no pleas were entered. The four men were remanded at large until next month.