Powder Shed director ordered to repay investors $126,000
The FMA brought proceedings against Rangi Savage for making a public offer for the sale of shares without a product disclosure statement.
The High Court ordered Savage to pay investors back via the FMA to ensure they received their compensation.
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The High Court has ordered an Auckland man to repay more than 160 investors a total of $126,000 for making false and misleading statements about a share offer he promoted in 2020.
He was also ordered to pay a penalty of $142,500 and was temporarily banned from being a company director.
The Financial
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