The court heard McEwen provided no affidavit but sent a certificate from a \u201cnotary\u201d in Lithuania.<\/p>\n
Notaries vary from country to country but they are generally lawyers authorised to conduct activities such as witnessing signatures on legal documents.<\/p>\n
According to Judge Lance, McEwen in the document said he had no savings or assets and was significantly in debt. <\/p>\n
\u201cThere is simply insufficient evidence in relation to the financial status of Mr McEwen,\u201d Judge Lance said.<\/p>\n
\u201cWhat\u2019s he actually doing at the moment?\u201d<\/p>\n
He said the information given was too vague for sentencing to proceed.<\/p>\n
Judge Lance said some character references, made via email, indicated McEwen still had money.<\/p>\n
It would be pointless to sentence McEwen to a six-figure fine if he had no way of paying, the judge said.<\/p>\n
Sentencing was adjourned to early March.<\/p>\n
\u201cThere\u2019s nothing stopping him from coming back to New Zealand. It\u2019s his decision,\u201d Judge Lance said.<\/p>\n
The court heard there was no chance of a custodial sentence for this type of offending. <\/p>\n
David McEwen.<\/p>\n
In November, McEwen pleaded guilty to all charges relating to breaching a Financial Markets Authority (FMA) stop order<\/a>.<\/p>\n The FMA filed charges against McEwen in December 2024 for breaching the order by continuing to make offers of financial products and taking contributions.<\/p>\n The stop was issued against McEwen and related entities over concerns of a risk of investor harm. <\/p>\n The authority previously told clients of McEwen and associated entities to look at the publication McEwen Investment Report to check credit and debit card statements for possible unauthorised payments<\/a>.<\/p>\n McEwen\u2019s associated entities included Stockfox Limited, Cosmopolitan Holdings Limited, Strategy Services Limited, Fund Administration Services Limited, and Digitech 1 Limited.<\/p>\n Other entities included M and A Holdings 1 Limited, M and A Holdings 2 Limited, Agtech 1 Limited, Agtech 2 Limited, Agtech 3 Limited, Startight Holdings Limited, Innovative Capital Limited and McEwen\u2019s Limited Partnership.<\/p>\n On social media, McEwen had described himself as having more than 30 years\u2019 experience watching the markets.<\/p>\n He had claimed to specialise in \u201ctimely commentary on shares that I classify through nine key assessment criteria\u201d.<\/p>\n He worked for the National Business Review between 1992 and 1996.<\/p>\nA view of the Old Town in Vilnius, Lithuania’s capital. Photo \/ Karol Kozlowski, Robert Harding RF, robertharding via AFP<\/p>\n