Fifth defendant named in finance company case

Auckland property developer Peter Chevin has been named as the fifth defendant in a court case involving two failed finance companies.

In March the Financial Markets Authority filed various charges under the Crimes Act and under the Companies Act against six men in relation to the collapse of Viaduct Capital and Mutual Finance.

Initially five men were named, including Paul Bublitz, Bruce McKay and Richard Tim Blackwood for their roles at both companies, Lance Morrison for his role at Mutual and Nicholaas Wevers in relation to Viaduct.

The charges against Mr Wevers were withdrawn following his sudden death on March 19.

Mr Chevin was not named initially as the FMA said he was seeking name suppression.

When the men appeared in the Auckland District court today, Mr Chevin’s lawyer did not seek name suppression for his client.

Mr Chevin, a thrice bankrupt, was allegedly associated with Mutual Finance.

The five men were remanded on bail without plea by Judge Gerard Winter and are next due to appear in mid June.

The men must give advance notice to the FMA if they intend travelling overseas and must remain in touch with lawyers.

Both Viaduct and Mutual held deposits insured by the government’ retail deposit guarantee scheme when they collapsed, owing a total of approximately $17 million.

The charges include theft in a special relationship under section 220 of the Crimes Act and making false statements in a prospectus under section 242 of the Crimes Act.

These charges carry maximum sentences of seven and 10 years imprisonment respectively.

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