The High Court at Auckland has made Rangi Wyatt Stephen
Savage Senior bankrupt on the application of the Financial
Markets Authority – Te Mana Tātai Hokohoko
(FMA).
The FMA applied for bankruptcy because Mr
Savage has not paid the $126,214 in compensation the Court
ordered him to pay investors in February 2025, plus interest
of $25,625.85. He has also not paid a $142,500 pecuniary
penalty payable to the Crown.
Head of Enforcement Margot Gatland.
Photo/Supplied.
FMA Head of
Enforcement Margot Gatland said bankruptcy was the
appropriate next step.
“The Court ordered Mr Savage
to compensate investors, and that…