High Court judge Kit Toogood sentenced financier Paul Bublitz on Wednesday to concurrent jail terms of 3 years & 2 months on 6 charges related to using finance companies to try to save other businesses during the global financial crisis.
The judge sentenced Bruce McKay to concurrent terms of 12 months’ home detention on 3 charges, and Richard Blackwood to concurrent terms of 9 months’ home detention on 4 charges.
A fourth man, property developer Peter Chevin, pleaded guilty to charges under the Crimes Act in 2016 and was sentenced to 9 months’ home detention in February 2017.
Justice Toogood delivered his verdicts on 5 February, followed that up with reasons a fortnight later and sentences on Wednesday.
I haven’t gone through the judge’s sentencing notes, so will leave them here as an attachment, along with the Financial Markets Authority release and earlier stories on the businesses.
23 March 2014: Wevers dies as FMA files Viaduct & Mutual Finance charges
21 June 2011: SFO closes Mutual Finance & Viaduct Capital investigation
31 December 2010: SFO launches investigation into Bublitz’s Mutual Finance
15 July 2010: Treasury withdrew guarantee from Viaduct Capital, gets caught by second Bublitz company
22 April 2009: Treasury withdraws guarantee from Wevers’ new company Viaduct Capital
6 March 2009: Wevers launches Viaduct Capital with $50 million prospectus
Attribution: Court, Financial Markets Authority.