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Source: ONE News -
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A couple who lost $400,000 in a failed finance company says the prosecution of its directors has come far too late.
Criminal charges have been laid against four directors and a former director of Capital and Merchant Finance who are accused of making false statements in a prospectus, and lying about the company's financial health.
Investor Barry Keon says the Securities Commission should have done something about the company 10 years ago. He says it's too late now, because the money has already been lost.
Keon says he and his wife are both 70 years old and they worked hard to look after their future.
Seven thousand investors lost a total of $167 million when Capital and Merchant Finance collapsed and Keon is angry that the previous government did not investigate the company.
He is critical of Labour MP Lianne Dalziel's attempt to put up a Private Members Bill to protect investors, saying it contradicts what she said when the party was in office.
Keon says her attitude at the time was that investors were rich people, and nobody cared about them.
