30 Jan 2013

Ex-finance firm director pleads guilty

1:45 pm on 30 January 2013

A jailed former director of failed finance firm Capital + Merchant Finance has pleaded guilty to further charges.

Owen Francis Tallentire pleaded guilty on Wednesday to three charges of making false statements in a prospectus and in advertisements under the Securities Act, in a case taken by the Financial Markets Authority.

The conviction means he is automatically banned from managing companies for five years.

Tallentire is serving a five-year prison sentence after being found guilty on two charges of theft last year following a Serious Fraud Office investigation into the collapse of the finance firm.

Capital + Merchant Finance was put in receivership in late 2007 owing $167.1 million to about 7500 investors.