Closed cases

Current at 14 July 2015.

 

Ross Collins

This criminal proceeding relates to allegations that Ross Collins, as a Director of Prosper Hills (2004) Limited, Prosper Hills (2006) Limited NZFIL 3, failed to deliver financial statements to the Registrar of Companies under ss 18(1) & 38(b) Financial Reporting Act 1993.

10 July 2014 Mr Collins was sentenced in the Tauranga District Court and ordered to pay a fine of $30,000 for breaches of the Financial Reporting Act 1993 (FRA). See FMA’s press release of 11 July 2014 for further details.
12 June 2014 Mr Collins appeared in the Tauranga District Court on 29 May 2014 and pleaded guilty to all charges. He will next appear before the Court on 10 July 2014 for sentencing.

 

First Mortgage Investments Limited

This criminal proceeding relates to an alleged failure to deliver an annual report to the Registrar of Companies in accordance with the requirements of Regulation 12 of the Securities Act (Contributory Mortgage) Regulations.
5 March 2014 First Mortgage has been convicted and fined $4,000 plus court costs for failing to deliver its annual report to the Registrar of Companies by 30 June 2013. First Mortgage pleaded guilty to the charge laid by the FMA and the conviction was entered in the Auckland District Court on 20 March 2014.
30 January 2014 First Mortgage appeared in the Auckland District Court on 30 January 2014 and is scheduled to reappear on 20 March 2014.
17 December 2013 First Mortgage Investments Limited has been charged with failing to deliver an annual report to the Registrar of Companies for the period 1 April 2012 to 31 March 2013 by 30 June 2013. The charges have been laid under the Securities Act (Contributory Mortgage) Regulations and carry a maximum fine of $5000.

 

Brian Henry

This civil proceeding relates to allegations of market manipulation in breach of the Securities Markets Act.

6 August 2014 At the Auckland High Court Mr Henry admitted his trading contravened section 11B of the Securities Markets Act 1988, and a pecuniary penalty of $130,000 was imposed by the Court. See FMA’s press release of 7 August 2014 for further detail.
July 2014 Mr Henry’s application to strikeout FMA’s claim was withdrawn. The matter will next be before the High Court on 6 August 2014.
May 2014 The High Court will hear an application by Mr Henry to strike out the claim of FMA on 20 June 2014.
6 November 2013 The High Court allocated a two week hearing for the hearing of the claim commencing on 15 September 2014.
5 August 2013 Mr Henry filed his statement of defence to the FMA’s claim.
13 June 2013

FMA filed civil proceedings against Brian Peter Henry alleging market manipulation of shares in the NZX-listed Diligent Board Member Services.

The proceedings contain six claims alleging certain orders and trades made by Mr Henry in 2010 breached the market manipulation provisions of the Securities Markets Act. FMA’s investigation followed a referral from NZX.

Brian Henry was a founding member of Diligent. He left the company in March 2009.

 

Hayden and George Jones

This criminal proceeding relates to allegations that Hayden and George Jones, as Directors of Heritage Park Taupo Limited and Heritage Park Investments Limited, failed to deliver financial statements to the Registrar of Companies under ss 18(1) & 38(b) Financial Reporting Act 1993.

11 September 2014 Hayden and George Jones appeared in the Christchurch District Court and were fined $35,000 each for breaches of the Financial Reporting Act 1993.
24 July 2014 Hayden and George Jones pleaded guilty to all charges. A sentencing hearing is scheduled to take place in the Christchurch District Court on 11 September 2014.
26 June 2014 Hayden and George Jones requested a further adjournment to allow instructed counsel to review disclosure. They will next appear before the Court on 24 July 2014 when they will be expected to enter pleas.
12 June 2014 Hayden and George Jones appeared in the Christchurch District Court and requested an adjournment to 26 June 2014 to allow disclosure to be considered.

 

Prudential Mortgage Limited

This criminal proceeding relates to an alleged failure to deliver an annual report to the Registrar of Companies in accordance with the requirements of Regulation 12 of the Securities Act (Contributory Mortgage) Regulations.
5 March 2014 Prudential Mortgage Limited has been convicted and fined $2,000 for failing to deliver its annual report to the Registrar of Companies by 30 June 2013. Prudential pleaded guilty to the charge laid by the Financial Markets Authority (FMA) and the conviction was entered in the Christchurch District Court on 5 March 2014.
17 December 2013 Prudential Mortgage Limited has been charged with failing to deliver an annual report to the Registrar of Companies for the period 1 April 2012 to 31 March 2013 by 30 June 2013. Prudential is due to appear in the Christchurch District Court on 5 March 2014. The charges have been laid under the Securities Act (Contributory Mortgage) Regulations and carry a maximum fine of $5000.