SFO, FMA lay a swag of criminal charges against Belgrave directors
The 60 SFO alleges three people, former Belgrave director Stephen Charles Smith, 43, associate Raymond Tasman Schofield, 49, and an unnamed third person misrepresented to investors how their investments would be used and subsequently used those funds in an unauthorised manner.
Smith and Schofield appeared in the Auckland District Court today and the third will appear at a later date, the SFO says.
Its charges relate to more than $18 million of loans made by Belgrave to various entities allegedly related to Schofield and the company between June 2005 and March 2008.
The FMA alleges Schofield in substance acted as a director of Belgrave and that he, Smith and another Belgrave director, Shane Joseph Buckley, made untrue statements in documents offering securities to the public.
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