Finance company director paroled

Last updated 15:18 29/07/2014
Tallentire
Fairfax NZ
MODEL PRISONER: Owen Tallentire, 67, was assessed as "low risk" by the Parole Board.

Relevant offers

Money

Power shopping can yield big savings for your electricity bill Mobile truck shops investigated by Commerce Commission Consumer NZ rates top dishwashers, washing machines and fridges Is a six-figure salary bad for your health? FSC takes issue with Treasury report showing KiwiSaver not delivering value NZ's richest businessmen lose millions in sharemarket turmoil A broker’s view: Metlifecare 'Auckland effect' keeps Hamilton housing market buoyant KiwiSaver and ethical investing Kiwis told to check status of 'lost' Australian super savings

The jailed director of failed finance company Capital + Merchant has been paroled with the Parole Board saying he was a "model prisoner" who'd coped "extremely well in prison".

Owen Tallentire was jailed for five years in 2012 for theft while in a special relationship and three breaches of the Security Act.

The finance company he'd been chief executive and then director of collapsed, owing $167 million to 7500 investors.

The Parole Board said Tallentire was directly responsible for the loss of more than $12m.

Many of the victims has been retirees or those approaching retirement.

Tallentire and fellow directors Robert Sutherland and Colin Ryan received a mixture of prison terms and home detention.

In a decision released today the board said Tallentire, 67, had become eligible for parole on July 20 and was assessed as "low risk".

He had been a model prisoner who'd had some health issues that had been managed through surgery, but had done "extremely well" in prison, the board said.

The decision detailed that although Tallentire was a superannuatant with no assets, his family was supportive of him and he had no intentions of working in management positions upon his release.

He was prohibited from working in a role that involved managing money or having fiscal responsibility. He must not communicate with the board or directors of Capital Merchant Finance without consent from a parole officer.

His sentence end date is July 18, 2018.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content