Report from BusinessDesk by Pattrick Smellie and Paul McBeth
All four directors of Lombard Finance and Investments have escaped prison sentences although former chief executive Michael Reeves only escaped prison or home detention because of ill health and family obligations.
In the High Court in Wellington today, Judge Robert Dobson said expressions of remorse by former chairman Doug Graham and fellow director Lawrie Bryant are mitigating factors in final sentencing. The other director, Bill Jeffries, declined to express remorse. Read more »