The head of the Financial Markets Authority says sentences imposed on former directors of the failed Nathans Finance company send strong messages about behaviour and punishment.
Nathans Finance went into receivership in 2007 owing $174 million.
Former directors Kenneth (Roger) Moses, Donald Young and Mervyn Doolan on Friday were found guilty of breaches of the Securities Act.
At the Auckland High Court, Doolan was sentenced to two years and four months' jail, and Moses two years and two months. Young received nine months' home detention.
Financial Markets Authority chief executive Sean Hughes told Checkpoint he welcomed the sentences.
"It's a good indication from the court that this sort of conduct or misconduct is serious and will be treated as serious.
"We're pleased with the outcome - a lot of work was put into this matter - and we think it sends a very strong message to the boardroom and investors."
Doolan and Moses are seeking bail pending an appeal.
