SFO appeals Capital + Merchant verdict

Wed, 22 Aug 2012

By Hannah Lynch Aug. 22 (BusinessDesk) - The Serious Fraud Office will appeal the not guilty verdicts of two former directors of failed lender Capital + Merchants Finance involving a Palmerston North development known as "The Hub Properties." In July, Neal Nicholls and Wayne Douglas were found not guilty of charges under the Crimes Act of theft by a person in a special relationship and one of making a false statement as a promoter. The charges involved $14.4 million of related party lending on the Palmerston North development. "There are im...

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