The directors of the failed company National Finance are facing criminal charges.
It was the first of more than 20 major finance companies throughout the country to go into receivership, owing millions to more than 2000 "mum and dad" investors.
Directors Trevor Ludlow, Anthony Banbrook and Carol Braithwaite have been charged under the Financial Reporting Act with making false statements in the company's prospectus.
They are also accused of failing to comply with financial reporting standards.
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The Serious Fraud Office is conducting a separate investigation into National Finance, and agencies associated with it.
The directors will appear in the Auckland District Court later this month.
