Pegasus Markets has been found guilty of falsely registering as a financial service provider
Pegasus Markets has been found guilty of falsely registering as a financial service provider
11 September 2020
The company claimed it was registered on websites after it had been de-registered - despite warnings from the Companies Office.
Pegasus was found to have twice breached registration laws by Judge Jelas in the North Shore District Court.
It's New Zealand-based director Michael Reps was found guilty of failing to prevent the company committing an offence.
Each charge carries a maximum fine of 300 thousand dollars for the company - and either a 100 thousand dollar fine and/or 12 months' imprisonment for an individual.
They will be sentenced on November 6.
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