Hamish Fletcher

Business reporter for the NZ Herald

Belgrave case pleas to be heard next year

Photo / NZ Herald
Photo / NZ Herald

The plea indications of three men accused of misleading Belgrave Finance investors have been put off until next year.

Former Belgrave directors Shane Buckley, Stephen Smith and an associate, Raymond Tasman Schofield, face Securities Act charges for allegedly making untrue statements in offer documents.

The case is being brought by the Financial Markets Authority, which alleges that, in substance, Schofield acted as a Belgrave director.

It also alleges the trio breached the Companies Act by making a false or misleading statement to the trustee.

The three men were due to appear in court this month to enter plea indications.

Belgrave Finance went into receivership in May 2008, owing around 1000 investors more than $20 million. It was liquidated in April 2010.

The Serious Fraud Office has also laid 60 criminal charges against the directors.

- NZ Herald

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