24 Oct 2013

Gisborne finance company directors sentenced

9:02 pm on 24 October 2013

Two directors of a Gisborne finance company that collapsed in 2010, leaving investors close to $4 million out of pocket, have today been sentenced in the High Court.

The principal director of Rockforte Finance, Nigel O'Leary, was sentenced to four years in prison after admitting nine charges including obtaining by deception, false accounting and theft by a person in a special relationship.

A second director, John Gardner, was sentenced to 11 months' home detention and 200 hours of community work.

The charges were part of false reporting that led to Rockforte being accepted into the Crown retail deposit guarantee scheme, and the subsequent taxpayer funded bailout.