Dominion Finance Group director Ann Butler has pleaded guilty to seven charges of misleading investors under the Securities Act in the High Court at Auckland.
The charges were laid by the Financial Markets Authority against all directors of Dominion Finance and its subsidiary North South Finance after the companies collapsed into receivership into 2008 owing more than 5900 public debenture investors $176.9 million.
Butler had been a director of Dominion and North South Finance, and was formerly an executive director until 2005 when she stepped down as chief financial officer.
Butler's husband Terence "Terry" Butler was also due to face the same charges but died of cancer earlier this year.
Terry Butler also faced charges laid by the Serious Fraud Office before his death, on which Dominion Finance's chief executive Paul Cropp was found guilty in April.
Dominion Finance director Robert Barry Whale and another man, whose identity is suppressed, were found not guilty on those charges.
However Whale has pleaded not guilty to the FMA charges alongside fellow directors Richard Bettle, Paul Forsyth, Vance Arkinstall and a trial has been set down for June 17.
Justice Dobson has asked for a report on the state of Ann Butler's finances, including any trusts she may be a beneficiary of.
The maximum sentence on the charges is 5 years imprisonment or up to $300,000 fine on each count.
Butler will be sentenced on June 14.
- ? Fairfax NZ News
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