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National Finance 2000 Ltd (NFL)

Page last updated: 18 Dec 2013

FMA alleged that the directors (Trevor Allan Ludlow, Carol Braithwaite, Anthony Banbrook) made untrue statements in the registered prospectus for National Finance 2000 Limited.

18 December 2013

Supreme Court judgment

Application for leave to appeal was dismissed.

30 October 2013

Court of Appeal judgment

Mr Banbrook's appeal was dismissed by CoA. He applied for leave to appeal this decision to the Supreme Court.

7 June 2013

Court of Appeal judgment

Trevor Allan Ludlow's appeal against FMA sentence was dismissed in the CoA.

12 March 2013

National Finance director Anthony Banbrook has today been sentenced to eight and a half months' home detention and ordered to pay $75,000 in reparations. He filed an appeal against conviction. See media release.

18 September 2012

Mrs Braithwaite was sentenced to 10 months' home detention and 300 hours of community work.

27 July 2012

Carol Braithwaite was found guilty on one charge of making untrue statements in a National Finance 2000 prospectus. See media release.

22 June 2012

Mr Banbrook pleaded guilty. He sought a disputed facts sentencing hearing, that was adjourned until 2013 but he then abandoned that on 15 February 2013. 

26 January 2012

Trevor Allan Ludlow pleaded guilty to the FMA charges and was sentenced to serve an additional nine months imprisonment cumulative on the existing SFO sentence. Accordingly, he has received a total sentence of six years four months imprisonment. 

Mr Ludlow has since appealed his SFO and FMA sentence. 

8 September 2008

Case filed in the District Court at Auckland

Background

National Finance collapsed in 2006 owing over $20 million to more than 2000 investors.

The SFO also laid charges against Mr Ludlow and National Finance's accountant John Gray. Mr Gray pleaded guilty and was sentenced to 18 months' imprisonment on 26 November 2010. Mr Ludlow was found guilty of all charges on 26 July 2011. He was sentenced on 20 October 2011 to five years and seven months imprisonment.