The former director of a Victorian business has pleaded guilty to illegally withdrawing funds from her business while in liquidation, despite the business having debts of over $700,000.
Lorraine Bullock is a former director of Twenty12, a liquor store that operated in Healesville, Victoria.
The company was put into liquidation in October 2015, with multiple creditors owed a total of more than $700,000.
Despite the liquidation, an investigation by ASIC found that Ms Bullock made an unauthorised transaction by withdrawing $20,655.18 from the collapsed company and transferring it to a related company, of which her son was a director.
Attending Melbourne Magistrates Court last month, Ms Bullock pleaded guilty to one charge of fraudulently removi…
Read the full article at: https://www.mybusiness.com.au/management/3909-former-director-pleads-guilty-to-stealing-company-funds
