° °
  • Firstline - TV3 New Zealand


    Weekdays 6am

  • 3 News - TV3 New Zealand

    3 News

    Nightly 6pm

  • Campbell Live - TV3 New Zealand

    Campbell Live

    Weekdays 7pm

  • 3rd Degree - TV3 New Zealand

    3rd Degree

    Wednesdays 8.30pm

  • The Paul Henry Show - TV3 New Zealand

    Paul Henry

    Starts 7th April

  • Three 60 - TV3 New Zealand

    Three 60

    Sundays 9.30am

  • The Nation - TV3 New Zealand

    The Nation

    Sat 9:30am / Sun 10am

White collar crime behind bars

Friday 2 Sep 2011 7:25 p.m.

By Tony Field

Two finance company directors have been jailed over untrue statements made in company documents.

Mervyn Doolan and Roger Moses were both directors of Nathans Finance, which collapsed four years ago owing $170 million to 7000 investors.

The case has repercussions for company directors across the country.

The men entered the dock knowing they faced up to five years in prison, but it wasn't as bad as that.

Mervyn Doolan received two years and four months.

The chairman, Kenneth Roger Moses got two years and two months.

Donald Young received nine months home detention and 300 hours community work.

The case focused on investment documents issued in the nine months before the collapse.

Lawyers for all three say their clients are deeply remorseful.

Both the New Zealand Shareholders Association and the Financial Markets Authority say the sentencing sends a clear message.

The men will pay around $900,000 in reparations, to be divided among investors who put money into Nathans in the company's final nine months.

Watch the full video of the court sentencing today

3 News

Others Are Watching

comments powered by Disqus