Second SPGI director sentenced
The Financial Markets Authority took proceedings against Mark Andrew Turnock and fellow director Andrew Hrothgar Robinson over claims they made in their 2008 and 2009 statements that there were no related-party transactions during the year.
That was false because the company had related-party loans with Heka Developments, a company Turnock was the sole director and a joint shareholder of.
The loans were for $600,000 and made up 50% of the company’s share capital.
Robinson was sentenced in October 2015 to a year in jail after his guilty plea.
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