22 Aug 2013

Five Star founder jailed

9:13 pm on 22 August 2013

A crown prosecutor says the founder of a failed finance firm, Five Star Finance, should never have been allowed to be involved in the management of any company, let alone a finance company.

Neil Williams is already serving more than three years in prison for misleading investors through the company's prospectus.

He's now been sentenced to five years in jail on fraud charges over lending millions to businesses or people associated with him or his directors.

Crown prosecutor Brian Dickie says Williams, who had been declared bankrupt before and wasn't allowed to work in the management of a company, was hidden from investors in Five Star Finance.