This page is a list of the sentences handed down from finance industry failures since 2006. We have also added in other cases covering fraud, corruption and dishonesty which have been conducted by the Serious Fraud Office (SFO) and/or other agencies.
It extends the data on our Deep Freeze List.
If you have information that can update or correct any entry, please email us at news@interest.co.nz
The interim totals of all sentences listed below are:
| Total jail time ... | 164 years & 6 months |
| Total home/community detention ... | 26 years & 7 months |
| Total community service time ... | 410.7 days (1.125 years) |
| Total $ reparation and fines ... | $3.65 million |
| Key People | Institution |
Date
failed
|
Current
status
|
Sentence handed down |
| Mervyn Doolan | Nathans Finance | Aug-07 | Sept-11 | 2 years & 4 months jail + $150K reparation |
| Roger Moses | Nathans Finance | Aug-07 | Sept-11 | 2 years & 2 months jail + $425K reparation |
| Donald Young | Nathans Finance | Aug-07 | Sept-11 | 9 months home detention plus 300 hours of community work and $310K reparation |
| John Hotchin | Nathans Finance | Aug-07 | Sept-11 | 11 months home detention, 200 hours community service and $200K reparation |
| Sir Douglas Graham | Lombard Finance | Apr-08 | July-11 | 6 months home detention and fines of $100,000 plus 200 hours community service |
| Lawrie Bryant | Lombard Finance | Apr-08 | July-11 | 6 months home detention and fines of $100,000 |
| Bill Jeffries | Lombard Finance | Apr-08 | July-11 | 8 months home detention and 250 hours community service |
| Michael Reeves | Lombard Finance | Apr-08 | July-11 | 9 months home detention and 250 hours community service |
| Colin Simpson | Rockforte Finance | May-10 | Sept-13 | 11 months home detention, 200 hours community service |
| Nigel O'Leary | Rockforte Finance | May-10 | Oct-13 | 4 years jail |
| John Gardner | Rockforte Finance | May-10 | Oct-13 | 11 months home detention and 200 hours community service |
| Wayne Douglas | Capital+Merchant | Nov-07 | June-13 | Original sentence 7½ years jail plus additional 8-months on further charges |
| Neal Nicholls | Capital+Merchant | Nov-07 | June-13 | Original sentence 7½ years jail plus additional 12-months on further charges |
| Owen Tallentire | Capital+Merchant | Nov-07 | Mar-13 | 12 months jail on top of an initial sentence of 5 years. |
| Colin Ryan | Capital+Merchant | Nov-07 | Mar-13 | 7 months home detention, 300 hours community service & $100K reparation |
| Robert Sutherland | Capital+Merchant | Nov-07 | Mar-13 | 6 months home detention, 300 hours community service & $60K reparation |
| Marcus Macdonald | Five Star Cons Fin | May-06 | Dec-10 | 2 years & 3 months in jail |
| Nicholas Kirk | Five Star Cons Fin | May-06 | Dec-10 | 2 years & 8 months in jail |
| Anthony Bowden | Five Star Cons Fin | May-06 | Dec-10 | 9 months home detention & 300 hours community service |
| Neill Williams | Five Star Cons Fin | May-06 | Apr-13 | 3 years & 7 months in jail - increased to 5 years in jail following separate charges |
| Rod Petricevic | Bridgecorp | Jul-07 | Apr-12 | 6½ years jail |
| Robert Roest | Bridgecorp |
Jul-07
|
Sept-13 | 6½ years jail - currently appealing sentence |
| Bruce Davidson | Bridgecorp | Jul-07 | Apr-12 | 9 months home detention & $500K reparation |
| Gary Unwin | Bridgecorp | Jul-07 | Apr-12 | 2 years jail |
| Peter Steigrad | Bridgecorp | Jul-07 | Aug-12 | 9 months home detention, 200 hours community service & $350K reparation |
| David Ross | Ross Asset Management | 2013 | Nov-13 | 10 years & 10 months jail |
| Jacqui Bradley | B'On Financial Services | Dec-09 | Oct-12 | 7 years & 5 months jail |
| Stephen Versalko | ASB (investment adviser) | Mar-10 | 6 years jail | |
| Neville Cant | Inv Management Ltd & Combined Financial Services | Jun-10 | 14 months jail & $100K in reparations plus a total of $94K in fines for two Securities Act breaches | |
| Evan Cherry | Investment Solutions Ltd | Dec-12 | 6 years & 2 months jail | |
| Warren Pickett | Waipawa Finance | May-09 | 5 years jail | |
| Vance Arkinstall | Dominion Finance & North South Finance |
Jun-08 | Aug-13 | 10 months home detention and 200 hours of community service. |
| Richard Bettle | Dominion Finance & North South Finance |
Jun-08 | Aug-13 | 10 months home detention and 200 hours of community service & $90K reparations |
| Terence Butler | Dominion Finance & North South Finance |
Jun-08 | Mar-13 | Mr Butler passed away on 28 March 2013 and the prosecution against him has been permanently stayed |
| Ann Butler | Dominion Finance & North South Finance |
Jun-08 | Jun-13 | 9 months home detention, 80 hours community service & $300K reparations |
| Paul Forsyth | Dominion Finance & North South Finance |
Jun-08 | Aug-13 | 11 months home detention, 200 hours community service & $50K reparations |
| Robert Whale | Dominion Finance & North South Finance |
Jun-08 | Jun-13 | 12 months home detention, 250 hours community service & $75K reparation |
| Stephen Smith | Belgrave Finance | May-08 | Jun-13 | 4 years jail |
| Shane Buckley | Belgrave Finance | May-08 | Aug-12 | 3 years jail |
| Raymond Schofield | Belgrave Finance | May-08 | Dec-12 | Granted conditional stay of criminal proceeding due to terminal illness |
| Hugh Hamilton | Belgrave Finance | May-08 | Sep-13 | Trial set down for 10 February 2014 |
| Trevor (Allan) Ludlow | National Finance 2000 | Aug-07 | Jan-12 | 6 years & 4 months jail |
| Carol Braithwaite | National Finance 2000 | Aug-07 | Sept-12 | 10 months home detention and 300 hours community service |
| Anthony Banbrook | National Finance 2000 | Aug-07 | Mar-13 | 8½ months home detention and $75K reparations - to appeal conviction and set to be heard 21 Oct 2013 |
| Edward Sullivan | Sth Canterbury Finance | Aug-10 | Dec-14 | pre-trial hearing 5 August 2013, trial scheduled for 12 March 2014 - guilty on 5 of 9 charges remanded on bail due to be sentenced on December 12, 2014 - sentenced to 12 months home detention and 400 hours community service |
| Robert White | Sth Canterbury Finance | Aug-10 | Dec-14 | pre-trial hearing 5 August 2013, trial scheduled for 12 March 2014 - acquitted of all charges |
| Lachlie McLeod | Sth Canterbury Finance | Aug-10 | Oct-14 | pre-trial hearing 5 August 2013, trial scheduled for 12 March 2014 - acquitted of all charges |
| Terrence Hutton | Sth Canterbury Finance | Aug-10 | Oct-14 | pre-trial hearing 5 August 2013, trial scheduled for 12 March 2014 - SFO dropped charges in Oct-13 |
| Brian Clegg | Clegg & Co |
Oct-07
|
Dec-09 | 12 months home detention. He was also convicted and discharged under Sec 59A of the Securities Act 1978. |
| Sharon Day | QED | Mar-08 | Jun-09 | Fined $80K and $120K reparations |
| Mark Bryers | Blue Chip | May-10 |
Section 194 (two charges) under the Companies Act 1993 for failing to keep adequate accounting records. Fined $930.00 plus $130.00 court costs on each charge. Section 239AW (1) under the Companies Act 1993 for failing to attend a watershed meeting. Fined $930.00 plus $130.00 court costs. |
|
| Ian Victor Petersen | Sorrel Financial Services | Dec-10 | 6 years jail, $110,000 reparations | |
| Mark Lacy | OPI Pacific Finance | Sept-09 | Sept -15 | charges laid under section 58 of the Securities Act - 200 hours community service and A$100,000 fine (approx NZ$112.5K) |
| Jason Maywald | OPI Pacific Finance | Sept-09 | Sept -15 | charges laid under section 58 of the Securities Act - 200 hours community service and A$100,000 fine (approx NZ$112.5K) |
| David Anderson | OPI Pacific Finance | Sept-09 | pending Oct -15 | charges laid under section 58 of the Securities Act - 300 hours community service and A$100,000 fine (approx NZ$112.5K) |
| Craig White | OPI Pacific Finance | Sept-09 | Sept -15 | charges laid under section 58 of the Securities Act - Guilty Plea made 18 September 2015 - 200 hours community service and A$100,000 fine (approx NZ$112.5K) |
| Kenneth Anderson | LWR | April - 09 | Nov 13 | 6 years jail |
| Grant Malcolm Herbert | Herbert Insurance Group Ltd | Oct-14 | 4 years & 6 months jail - Insurance fraud case conducted by SFO - not a finance company collapse. | |
| Kairuaiti Tangata Oropai Robert Kairua (Robert Kairua) | Grace Holdings NZ Limited (t/a BullionBuyer) | July-15 | 3 years and 9 months jail - charges related to false statements in brochures regarding his experience and qualifications, the nature of the trading and the insurance and storage of physical metals - not a finance company collapse. | |
| Peter John Scutts | NZ Wine Company Ltd (NZWC) | July-15 | 8 months home detention - Dishonesty and corruption case conducted by SFO - not a finance company collapse | |
| Andrew Hrothgar Robinson | Strategic Planning Group Limited (SPG) | July-15 & Oct-15 |
6 years jail - fraud - FMA referred the Crimes Act issues to the SFO. Mr Robinson still faces charges laid by the Financial Markets Authority under Financial Markets legislation - not a finance company collapse 1 year jail - for his involvement as a director of Strategic Planning Group Limited (SPG) and SPG Investment Company No.1 Limited (SPGI). This is in addition to the six-year term imposed in July this year on fraud charges laid by the Serious Fraud Office (SFO). |
|
| Patrick John Renshaw | Resource Management Research Services Limited (RMRSL) | Oct-15 | 10 months home detention after pleading guilty to 42 tax charges involving non-payment of PAYE deductions and filing false GST and income tax returns, amounting to more than $345,000. Reparations of $13,000 in instalments and a lump sum of $2,500 were ordered. | |
| Michael Robert McDonald | McDonald Reid Limited | Nov -15 | SFO - it is alleged that Mr McDonald received money from some of his clients for the purposes of paying tax but failed to forward the money to the Inland Revenue Department. He also allegedly filed approximately 250 false GST and income tax returns in order to receive money from Inland Revenue or to retain client funds that he was not entitled to. The SFO has also charged Mr McDonald for allegedly making false entries in one of his client’s financial statements in order to conceal his offending. | |
| Paul Thomas Staples | STH Investments, 380 Express & Voltage Security | Dec-15 | IRD - 3yrs jail - Staples filed 28 fraudulent documents including income tax returns and GST returns over the three years. These documents related to three companies, STH Investments, 380 Express and Voltage Security, previously known as First Response Security Services. | |
| Victor John Clarke | Media Web Ltd (Director) | Dec-15 | SFO - three years jail.Charges we for false accounting, using forged document and obtaining by deception. | |
| Peter Sanele and Mark Treadwell | Thermakraft Industries NZ Ltd | Dec-15 | SFO - 10 months home detention & 5 months community detention and 200 hrs community service respectively | |
| Timothy Vivian Meredith | Dec-15 | IRD - 3 years 6 months for tax evasion | ||
| Long Soun | Chelsea Bakery and Lunch Bar | Jan-16 | IRD - tax offences totalling nearly $280,000 relating to his business; 8 months home detention | |
| Jonathan Graham West | Investment Centre and Matrix Futures |
Feb-16 Mar-16 May-16 |
SFO - the SFO alleges that between 2008 and 2013 Mr West offended by using clients' funds on their behalf but outside the agreed terms or by using his clients' money for his own purposes. SFO - West pleads guilty to charges and will be sentenced on May 12, 2016 Sentenced to 3-years jail |
|
| Ewan Malcolm Campbell | Cattle farming and organic butchery businesses. | Feb-16 | IRD - jailed for four years and nine months for not paying nearly $1.5 million in tax. | |
| Michael John Pallesen | Central Tyres Waipukurau Ltd | Mar- 16 | pleaded guilty in Hastings District Court to 28 charges of not passing on monthly tax deductions from workers' pay to Inland Revenue - totalled just over $60,400. | |
|
Vicki Ravana Letele Kamni Kumar |
Focus Property Investment Ltd (Focus). | Mar-16 | SFO - Ms Letele was found guilty on 10 charges of dishonestly using a document. The convictions related to property transactions. The total value of the fraud being approximately $3.6 million. Ms Letele was sentenced to 3yrs and 2 months in jail. Ms Kumar was sentenced to 12 months home detention and 250 hours community service. | |
| Paul Kenneth Rose & Jane Clare Rose | Mighty River Power | May-16 | SFO - Paul Rose was sentenced to three years and two months’ imprisonment and Jane Rose was sentenced to nine months of home detention. | |
| Mark Andrew Turnock | SPG Investment Company No. 1 Limited (SPGI) | Jun-16 | FMA - four months home detention and 200 hours of community work for making false statements in the company’s financial statements. | |
| Peter Chevin | Mutual Finance & Viaduct Capital | Aug-16 | NZ Herald - pleaded guilty to 10 charges of theft by a person in a special relationship. He is due to be sentenced next month. | |
| Paul Bublitz, Bruce McKay and Richard Blackwood | Mutual Finance & Viaduct Capital | Aug-16 | ||
| Lance Morrison | Viaduct Capital | Aug-16 | ||
| Barrie Kenneth James George | Sep-16 | SFO - Mr George received a sentence of 10 months’ home detention for offences totalling totalling $103,580.54 | ||
| Sir Ralph Heberley Ngatata Love | Sep-16 | SFO - Sir Ngatata was found guilty of 'Obtaining by deception' - Sentenced to 2-years & 6 months jail | ||
| Rebecca Maree Boyce | MediaWorks staff member | Oct-16 | Boyces' charges include five counts of forgery, five of using a false document and 15 of dishonestly using a document. Sentenced to 3-years jail | |
| Richard Gregory Beven | Wanaka Lakes Health Centre | Oct-16 | In June Beven pleaded guilty to false accounting and theft in a special relationship from the centre's operating company, Wanacare Ltd. Beven was sentenced to 3-years & 6 months jail | |
| Teremoana Kimiangatau | Auckland Airport staff member | Nov-16 | Pleaded guilty on all three charges of "obtaining by deception", laid by the Serious Fraud Office [SFO]. Kimiangatau was sentenced to 3-years & 2-months in jail | |
| Joanne Harrison | Former Ministry of Transport staff member | Nov-16 | SFO - Joanne Harrison has pleaded guilty today to Crimes Act charges in relation to a fraud committed during her employment at the Ministry of Transport. Entities associated with Ms Harrison obtained approximately $726,000 from the Ministry of Transport. | |
| Diane May Pihama | Nov-16 | $355,000 Benefit fraud - sentenced to 3-years and 3-months jail | ||
This page is a list of the sentences handed down from the resolved court cases resulting from the finance industry failures that started in 2006. We have also added in other cases covering fraud, corruption and dishonesty which have been conducted by the Serious Fraud Office (SFO).
If you have information that can update any entry, please email us at news@interest.co.nz