OPI's White sentenced to community work
Craig White pleaded guilty on Friday to two charges.
Craig White, a former director of OPI Pacific Finance, has been sentenced to 250 hours of community work and ordered to pay $A100,000 in reparations by the Auckland High Court after pleading guilty to two Securities Act charges laid by the Financial Markets Authority.
the Australia-based director pleaded guilty on Friday to two charges, including distributing an advertisement and signing-off on a registered prospectus that contained untrue statements in 2007.
White's guilty plea came on the same day former OPI directors Mark Lacy and Jason Maywald were also sentenced to 200 hours of community work and ordered to pay $A100,000 in reparations for their guilty pleas.
All the reparations are to be paid to the company's receivers.
Former director David Anderson is scheduled to stand trial on Oct. 5.
OPI provided finance to commercial property developers and investors and was tipped into receivership in September 2009 and then liquidation two years later.
More than 10,000 investors were owed about $247 million. As at July this year, investors had been repaid 30.23c in the dollar.
(BusinessDesk)
Suze Metherell
Wed, 23 Sep 2015
Wed, 23 Sep 2015
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OPI's White sentenced to community work
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