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New Zealand court fines and bans businessman for misleading investors via social media.
New Zealand's High Court ordered Rangi Wyatt Stephen Savage to pay $126,214 in compensation and a $142,500 penalty for violating financial laws.
Savage misled investors about his company, The Powder Shed Tokoroa Limited, by making false claims on social media and failing to provide necessary disclosure documents.
The court also banned him from managing any New Zealand entity for six years.
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Los tribunales de Nueva Zelanda multan y prohíben a los hombres de negocios por inducir a error a los inversores a través de las redes sociales.