The last men standing from Dominion Finance have now pleaded guilty but could still face further court action if authorities continue with their civil case against the firm's directors and seek penalties of up to $500,000 from each of them.
Dominion Finance and North South Finance directors Rick Bettle and Vance Arkinstall pleaded guilty to five Securities Act charges for signing offer documents that contained untrue statements.
Another director, Paul Forsyth, pleaded guilty to seven Securities Act charges in a case brought by the Financial Markets Authority.
The three men admitted the charges in the High Court at Auckland yesterday before Justice Sarah Katz, just days before their trial was due to start.