An investment adviser, operating as a consultant or investment broker for five years has been found culpable of forgery and theft and, thus, has been forbidden to act for the same.

Neville Ian Cant, Former Timaru-based investment counselor, was condemned under the Crimes Act of Crimes, concerning falsification and thievery by a person in a special relationship. The police have tracked the charges.

Several complaints had been received concerning investment schemes established by Mr. Cant, the Commission said.

Investment Management Limited and Combined Financial Services Limited, Mr. Cant's Companies, along with him were found responsible for offering and allocating securities not including a scheduled catalog and outlay testimonial for the balanced tenure format known as 'The Gables Proportionate Ownership Scheme', as a requisite for the Securities Act.

On recommendation from the Securities Commission, the Ministry of Economic Development followed the Securities Act charges.

Mr. Cant, last week, was fined $40,000 on each of the two Securities Act charges and was also decreed to 14 months of custody he was also asked to pay $100,000 compensation on the two Crimes Act charges.

On each of the two Securities Act charges, his Company too was fined $14,000 on each of the two.

Under the Companies Act 1993, he is also debarred from being the Director and Merger of any Company.