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.
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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