Two former directors of failed finance company OPI Pacific (formerly MFS) have been given sentences of community work and a fine.
Mark Lacy and Jason Maywald, were sentenced in the Auckland High Court today after earlier pleading guilty to making untrue statements in advertisements and a prospectus in 2007.
Both men received sentences of 200 hours community work each, to be carried out in New Zealand, and ordered to pay A$100,000 in reparation to be paid to the company’s receivers.
More than 10,000 investors were owed a$247 million. As at July 2015, OPI investors had been repaid 30.23 cents in the dollar.
The trial of the remaining former directors of OPI, David Anderson and Craig White, is scheduled to start on October 5 in the Auckland High Court.
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