The final defendant in the OPI Pacific Finance trial has admitted misleading investors and today was sentenced to community work.
David Anderson is the fourth OPI director to plead guilty in the last month, shortly before the case was due to go to trial in the High Court at Auckland.
Anderson, who admitted two charges for make untrue statements in offer documents, was today sentenced to 300 hours' community work and ordered to pay AUD$100,000 to OPI's receivers.
It is a similar sentence to those received by his fellow former board members at the failed company, Mark Lacy, Jason Maywald and Craig White.
The swift end to the Financial Markets Authority case comes almost two years after charges were laid against the men, who will now be banned from managing a company in New Zealand for the next five years.
In any event, they are all Australian-based.
"In bringing this case to a close, the four guilty pleas and convictions show that each of the directors have accepted responsibility for their failure to fulfil their disclosure obligations to investors," said the FMA's acting director of enforcement and investigations Paul O'Neil.
"Due to the directors' actions, investors were misled about the position of the company, resulting in financial losses. These criminal convictions send a strong message to issuers of securities in New Zealand that this type of misconduct will be held to account."
OPI collapsed owing 10,000 investors $247 million. As at July 2015, they had got 30.23 cents in the dollar back.