Should any of the Lombard four be behind bars?
The Financial Markets Authority has confirmed it is appealing the sentences handed to the directors of the failed Lombard Finance & Investments, reports the Herald.
Doug Graham, Bill Jeffries, Lawrie Bryant and Michael Reeves were given non-custodial sentences last month after they were found guilty of misleading investors. Offer documents were signed off in late 2007, despite the omission of information about the company's liquidity situation. The company collapsed in April 2008.
Sentences ranged from 300 hours community service plus $100,000 in reparation for Graham and Bryant, while Jeffries and Reeves received 400 hours.
Should these men have been sent to prison for their crimes?