A former business liquidator has been sentenced to seven years jail time after he was found to have committed three counts of fraud during the liquidation of a company in 2017.
As part of an investigation by the Australian Securities and Investments Commission (ASIC), the Queensland-based liquidator was sentenced on Friday after it was found he had redirected nearly $1,000,000 worth of funds from anexternal administration bank account into his own bank account.
Those funds were then used by the liquidator for his own personal use.
The company under administration at the time wasproperty development company Neolido, which wound up in 2005, and had the liquidator appointed in 2010. The liquidators registration was suspended in 2018 pend…
Read the full article at: https://www.smartcompany.com.au/finance/fraud/queensland-liquidator-jailed/
