FMA New Zealand reports: Guilty pleas entered in OPI Pacific Finance case
FMA, New Zealand’s Financial Markets Authority, has issued a press release to inform that:
Two former directors of OPI Pacific Finance, Mark Lawrence Lacy and Jason Robert Duncan Maywald, have today pleaded guilty to two charges under the Securities Act 1978 in a prosecution commenced by the Financial Markets Authority (FMA) in 2013.
The charges relate to a registered prospectus and an advertisement distributed in 2007, which the FMA alleges included untrue statements.
The FMA’s director of enforcement and investigations, Belinda Moffat welcomed the guilty pleas entered today ahead of trial.
“In pleading guilty, Messrs Lacy and Maywald have accepted responsibility for their failure to fulfil their disclosure obligations to investors,” she said.
The trial of the remaining defendants, who are also former directors of OPI, David Mark Anderson and Craig Robert White, is scheduled to commence on 5 October 2015.
Messrs Lacy and Maywald will be sentenced on 18 September 2015.
Source: FMA – Guilty pleas entered in OPI Pacific Finance case
