FMA alleged that the directors (Marcus Macdonald, Nicholas Kirk, Anthony Bowden, Neill Williams):
The SFO also laid charges against all four directors of FSCF.
Neil Wiliams was sentenced to five years imprisonment in respect of the SFO charges. This sentence is to be served concurrently with the sentence given for the Securities Act offending.
Mr Williams was sentenced to three years seven months imprisonment and 5-year management ban. See media release.
Mr Williams judicial review application was declined.
The Court declined Mr Williams' application for plea of guilty.
He applied for a judicial review of that decision and other matters.
All defendants pleaded guilty. Mr Kirk and Mr Macdonald sentenced to over two years imprisonment. Mr Bowden was sentenced to home detention. All directors banned from managing companies for five years.
Mr Williams applied to vacate his plea of guilty.
Case filed against FSCF in the District Court at Auckland.
Case filed against FSF and FSDN in the District Court at Auckland.
Five Star Consumer Finance and Five Star Finance owed $97 million to 2300 investors when they collapsed in 2007.