The Serious Fraud Office (SFO) has laid charges against a second man in relation to an investigation of the options trading company Derivatek New Zealand Limited.
The SFO alleges Mark James Whelan, 40, used investors' funds to fund a portion of an advance fee for a US$20 million loan and
for personal use.
The SFO also alleges that in order to conceal this activity, Whelan then issued false statements to these investors.
Last week the SFO laid charges against Gregory Alan Arnott, an options trader who traded through his company, Derivatek, on behalf of New Zealand clients on the Australian Stock Exchange.
Whelan is an associate of Arnott, and the SFO alleges he assisted to enlist investors to invest funds with Arnott and Derivatek through his company Global Futures Trading Limited.
