A bad week for Lombard

The Securities Commission today confirmed that it has laid criminal charges against Lombard Finance & Investments directors Sir Douglas Graham, Michael Reeves, William Jeffries and Lawrence Bryant.

EUFA members who invested in Lombard Finance are encouraged by the laying of charges against Lombard Finance Directors.

The Securities Commission has knocked the tip off the iceberg by laying criminal charges against the Lombard directors and have shown New Zealand that they do have power to take actions that have been called for since the finance collapse began.

Coordinator of EUFA Suzanne Edmonds said from Wellington today “We know as a country we can now justifiably expect our rights that the Securities Commission and other Authorities will investigate the many other company Directors and Management of troubled finance companies to ensure that justice is done”

EUFA members intend demanding a continuation of law enforcement by authorities and that they stop dodging the issues blaming a lack of resourses.