"I am devastated for my son Adam that all of his early inheritance has been lost after he invested it in Mako Holdings," Caroline Banks says.

"I decided to give Adam money while I was still alive to give him financial independence, rather than wait until I die," she says.

In a case now being heard at the High Court at Auckland, her son, self-employed Adam Banks - claims he lost a $2.4 million investment in network hardware maker Mako Networks after its directors made allegedly misleading and untrue statements about the company's financial position, and allegedly made misrepresentations about

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Potential investor questions directors' compensation

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Spark turns off the tap